In fact, the above-mentioned cross-country correlation shows a significant increase since 2008 in the correlation coefficients of all major Asian economies,  1  This 60th anniversary event implies that CEMLA began its activities in 1952, merely seven years after the end of World War II.
Asia and the Pacific (hereafter, referred to simply as Asia unless otherwise noted) also has a long and very active history of regional financial cooperation. The central bank leaders of seven South East Asian nations gathered in Bangkok, Thailand in 1966, and established the foundation of SEACEN, which plays an important role as a training and learning hub in the region.