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The ten Southeast Asian economies reached a milestone on 31 December 2015, when they announced the formation of an ASEAN Community. Although this includes three pillars - ASEAN Political-Security Community, ASEAN Economic Community (AEC) and the ASEAN Socio-Cultural Community - it is the economic pillar that generates immense debate, due to its expected quantifiable benefits to member countries. This book, thus, focuses on the ASEAN Economic Community and seeks to explain the need for building domestic consensus within the member countries. It starts with an overview chapter describing the current achievements of the AEC. It then explores possible explanations for the achievements/non-achievements and offers a hypothesis on conflicting economic interests in a country as one possible explanation for gaps in implementation. This is because any form of economic liberalisation brings with it the winners and losers, thereby raising resistance to liberalization measures and slowing down the implementation process. The book includes six country chapters - Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam - that examine sources of domestic conflict/s in greater detail and depth. It also includes a regional chapter, co-authored by the ex-Secretary General of ASEAN, Mr Rodolfo Severino, that brings out the political nature of ASEAN economic cooperation since its inception in 1976.For ASEAN beyond 2015, the book articulates the need to obtain a strong domestic consensus that supports the integration initiatives of the AEC. This can be viewed as a way forward to accelerate and deepen integration within ASEAN. The book concludes with some suggestions on how each country can move towards achieving domestic consensus, based on the respective country level analysis.
"The papers compiled in this volume were presented during the ASEAN Roundtable on 29 April 2010 and during a brainstorming session on 23 September 2010 by the ASEAN Studies Centre of the Institute of Southeast Asian Studies"--Foreword.
This is an important and timely volume: important because ASEAN is an increasingly significant and influential regional and global actor; and timely because, as the 2015 ASEAN Economic Community target approaches, what is needed is a sympathetic yet arms-length survey of the issues and challenges. ASEAN will miss some of the targets laid out in its AEC Blueprint, but the reader is left in no doubt that the ASEAN spirit is alive and well. The editors include a distinguished former Secretary General of ASEAN and the leading academic analyst of ASEAN economic cooperation. They and their co-editors are to be congratulated for soliciting contributions from an outstanding and diverse group of authors, and then adding their highly authoritative commentary and analysis. A must read for anybody seriously interested in ASEAN.
On 28 July 2008, the ASEAN Studies Centre and the Regional Economic Studies Programme, both of the Institute of Southeast Asian Studies, and the Konrad Adenauer Stiftung organized a roundtable on The ASEAN Economic Community Blueprint. The brainstorming session gathered Southeast Asian experts from the region to discuss the AEC Blueprint, which ASEANs leaders had adopted at their summit meeting in November 2007, and the prospects of any obstacles to its implementation by the target year, 2015. The roundtable started with a progress report on the AEC Blueprint given by S. Pushpanathan, Principal Director of Economic Integration and Finance, ASEAN Secretariat, Jakarta. Thereafter, the sessions examined the various aspects of the Blueprint tackling the non-tariff barriers, designing a comprehensive ASEAN Investment Agreement, a regional framework for competition policy, the role of infrastructure development in economic integration, the importance of international production networks in economic integration, etc.
This book provides the first systematic analysis of new Asian regionalism as a paradigm shift in international economic law. It argues that new Asian regionalism has emerged amid the Third Regionalism and contributed to the New Regional Economic Order, which reinvigorates the role of developing countries in shaping international trade norms. To substantiate the claims, the book introduces theoretical debates and evaluates major regional economic initiatives and institutions, including the ASEAN+6 framework, APEC, the CPTPP and the RCEP. It also sheds light on legal issues involving the US-China trade war and the COVID-19 pandemic, as well as trade policies of Asian powers, the European Union and the United States. Hence, the legal analysis and case studies offer a fresh perspective of Asian integration and bridge the gap between academia and practice.
This book provides a contextual analysis of ASEAN law and its impact on the business and commercial aspect of laws.
This book investigates long-term development issues for members of the Association of Southeast Asian Nations (ASEAN). It finds that with the proper policy mix—including domestic structural reforms and bold initiatives for regional integration—ASEAN has the potential to reach by 2030 the average quality of life enjoyed today in advanced economies and to fulfill its aspirations to become a resilient, inclusive, competitive, and harmonious (RICH) region. Key challenges moving forward are to enhance macroeconomic and financial stability, support equitable growth, promote competitiveness and innovation, and protect the environment. Overcoming these challenges to build a truly borderless economic region implies eliminating remaining barriers to the flow of goods, services, and production factors; strengthening competitiveness and the institutional framework; and updating some governing principles. But ASEAN should not merely copy the European Union. It must maintain its flexibility and pragmatism without creating a bloated regional bureaucracy. The study’s main message is that through closer integration, ASEAN can form a partnership for achieving shared prosperity in the region and around the globe.
The formation of the Association of Southeast Asian Nations (ASEAN) in 1967 was originally driven by political and security concerns. In the decades that followed, ASEAN's scope evolved to include an ambitious and progressive economic agenda. In December 2015, the ASEAN Economic Community (AEC) was formally launched. Although AEC has enjoyed some notable successes, the vision of economic integration is yet to be fully realized. This publication reviews the evolution of ASEAN economic integration and assesses the major achievements. It also examines the challenges that emerged during the past decade and provides recommendations on how to overcome them.
The Association of Southeast Asian Nations (ASEAN) is strategically significant because of its size, dynamism, and role in the Asian economic and security architectures. This paper examines how ASEAN seeks to strengthen these assets through "centrality" in intraregional and external policy decisions. It recommends a two-speed approach toward centrality in order to maximize regional incomes and benefit all member economies: first, selective engagement by ASEAN members in productive external partnerships and, second, vigorous policies to share gains across the region. This strategy has solid underpinnings in the Kemp-Wan theorem on trade agreements. It would warrant, for example, a Trans-Pacific Partnership (TPP) agreement with incomplete ASEAN membership, complemented with policies to extend gains across the region. The United States could support this framework by pursuing deep relations with some ASEAN members, while broadly assisting the region's development.