All eyes on ASEAN: Can ASEAN develop a collective economy akin to the European Union?
By 2015 the Association of Southeast Asian Nations is targeting full economic integration. Will the 10 member nations of ASEAN be able to create a collective economy similar to that of the European Union? As the deadline approaches, what are the opportunities and challenges ahead?
ASEAN has the potential to become one of the world’s leading economic regions, competing with the major economies of Europe, China and the United States, but it will take time — that was the message at this year’s World Economic Forum on East Asia meeting recently held in Manila.
In 2007, ASEAN was tasked with building its own integrated economic community by 2015. The ASEAN Economic Community’s purpose is to