I love the idea. But the language barrier between the Taiwanese and the Pinoys would be tough to overcome. Also, having lived in Asia, I doubt they will be able to generate as much pride in their continent or country as the Europeans or the Americans.
However, I think Team Philippines and Team Taiwan would do quite well on their own. And in that setting they would be able to form the team spirit needed. So that leaves us with 4 teams.
Convince Matchroom to put up some dough and create a World Pool League where each team plays the other three teams twice, once at home, once away. Score it like a soccer league with points for the winner, matches won/lost, and racks won/lost. If teams are tied for points at the end of the season, matches won/lost determine the winner, if tied racks won/lost determine the winner.
At the beginning of each season choose 10 players from each team, making them eligible to play. Team Captain has to choose 5 from this pool of players before each of the 6 events. Keep the Mosconi Cup format, only shorten it to 3 days.
Bigger prizefunds:
so the bookies feel safer making odds and taking big wagers, also to keep the players fighting till the last matchday because they can still earn money even if they are not able to win the league for that season
TV coverage for each country mandatory.
There it is, somebody willing to implement this and spend 5 million will save pool. j/k (well, not really)