How to really build an Asian bond market

On February 27, The Asian Wall Street Journal ran an article that some Asian countries are seeking to create a regional bond market. There has in fact, been quite a bit of discussion about developing an "Asian Bond Market". The details of the objectives of creating this market seem to be a bit fuzzy, with discussions ranging from developing, "new products which will be branded Asian bonds", to central banks contributing towards a regional bond fund to invest in Asian issues.