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Old 09-15-2014, 01:29 AM
 
Location: Pilipinas
282 posts, read 606,351 times
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ASEAN Economic Community


The ASEAN Economic Community (AEC) shall be the goal of regional economic integration by 2015. AEC envisages the following key characteristics: (a) a single market and production base, (b) a highly competitive economic region, (c) a region of equitable economic development, and (d) a region fully integrated into the global economy.


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ASEAN Economic Community




Patterned after European Union, Would it be beneficial equally amongst Southeast Asian Countries?
Would it be eventually presented as one single unit like the EU?
Would it use a common currency just like the Euro money?


Share your thoughts on the issue guys!
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Old 09-15-2014, 07:44 AM
 
25,059 posts, read 23,157,510 times
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I actually studied about this as part of my homework in my business class on Friday. The proposals would be more similar to NAFTA than the EU. In NAFTA, there is no free movement of labor except for certain classes of workers, and you still need to be approved for a visa unlike the EU where you just show them an EU member passport and you're good to go. We also have our own separate currencies still, and from what I know about ASEAN already, there are no plans for a regional currency in the works.

In my view, more free trade is a bad idea. Free trade works for the corporate class and governments, but not for ordinary people. Lower skilled jobs, like garment making, food processing, etc. in the Philippines might be offshored to lower cost countries like Laos, Cambodia, etc.
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Old 09-15-2014, 09:24 PM
 
Location: Phoenix
1,019 posts, read 895,028 times
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Why do I have this feeling that I would prefer PH not to join in this integration?
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Old 09-15-2014, 09:34 PM
 
Location: Sandpoint, Idaho
2,897 posts, read 5,276,609 times
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The problem is that full integration has massive distribution effects within countries and across ASEAN.

A pre-integration phase is warranted, focused on standards, best practices and transparency. But since countries are intentionally opaque and since many industries are tied to government or to political parties or families, it is hard to see rapid progress on this. But the conversation is healthy. Jut do not expect anything beyond glacial progress from within ASEAN.

More likely, ASEAN integration will be jump started from "requests" (read "demand") from the big four external economies to ASEAN: China, the US, Japan and the EU.

S.
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Old 09-15-2014, 10:39 PM
 
Location: Pilipinas
282 posts, read 606,351 times
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Quote:
Originally Posted by theunbrainwashed View Post
I actually studied about this as part of my homework in my business class on Friday. The proposals would be more similar to NAFTA than the EU. In NAFTA, there is no free movement of labor except for certain classes of workers, and you still need to be approved for a visa unlike the EU where you just show them an EU member passport and you're good to go. We also have our own separate currencies still, and from what I know about ASEAN already, there are no plans for a regional currency in the works.

In my view, more free trade is a bad idea. Free trade works for the corporate class and governments, but not for ordinary people. Lower skilled jobs, like garment making, food processing, etc. in the Philippines might be offshored to lower cost countries like Laos, Cambodia, etc.
Hmmnn.. Nice one sir, very informative.
So given those scenarios you've mentioned, What would be the reason why ASEAN states / leaders are pushing this to happen? What would be the advantage economically or politically?


Could share us more on your lesson please. Thanks a lot.
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Old 09-15-2014, 10:51 PM
 
Location: Pilipinas
282 posts, read 606,351 times
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Quote:
Originally Posted by Sandpointian View Post
The problem is that full integration has massive distribution effects within countries and across ASEAN.

A pre-integration phase is warranted, focused on standards, best practices and transparency. But since countries are intentionally opaque and since many industries are tied to government or to political parties or families, it is hard to see rapid progress on this. But the conversation is healthy. Jut do not expect anything beyond glacial progress from within ASEAN.

More likely, ASEAN integration will be jump started from "requests" (read "demand") from the big four external economies to ASEAN: China, the US, Japan and the EU.

S.
Good point sir, so meaning it is intended more for economic clustering first and foremost?

You've mentioned the big 4 as probably the reason behind this effort.. Would it be disadvantageous to China? considering that their industry and economy are heavily based on manufacturing, cheap labor, etc. Somehow ASEAN states - like Myanmar, Cambodia, Timor Leste can also offer cheap labor?
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Old 09-15-2014, 10:58 PM
 
Location: Pilipinas
282 posts, read 606,351 times
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Quote:
Originally Posted by kent_moore View Post
Why do I have this feeling that I would prefer PH not to join in this integration?
He he he.

I don't know if we could gain something on that economically eventually, given that our FDI policy is still closed and conservative...

Though beyond economic aspect, this integration could be a solid, like if we stand / act as one on that South China Sea issue, etc. IMO
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Old 09-16-2014, 02:58 AM
 
Location: Taipei
6,773 posts, read 5,114,752 times
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Quote:
Originally Posted by Coach Rajko View Post
ASEAN Economic Community
Would it be eventually presented as one single unit like the EU?
Would it use a common currency just like the Euro money?
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Old 09-16-2014, 03:29 AM
 
Location: Pilipinas
282 posts, read 606,351 times
Reputation: 40
@ Grey

Ha ha ha ha.. nice gif. =) lovely though

If that's yours, any thoughts on the integration?
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Old 09-16-2014, 05:14 AM
 
Location: Taipei
6,773 posts, read 5,114,752 times
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I think there's another thread about ASEAN integration.
Do you foresee a future EU-style setup of the ASEAN region someday?

It's a very rough generalisation but the beginning of the EU was basically built on the bloody history of being invaded by Germany,after that,it's the relatively equal wealth and the amicable relations among member states.

ASEAN nations were invaded by Japan,however Japan has never been in the union since day one,and some of the member states are probably more afraid of China nowadays,so the background of "embracing our crazy enemy to prevent another war" didn't exist in the first place.

Secondly,most countries in SE Asia are not in good terms.I'm not saying they hate each other,but the cancellation of border control is almost unthinkable for these countries.

Last but not least,almost every country in this region is pretty poor,or at least has a lot to desired,except for Singapore.For a wealthy continent like Europe,the Euro zone was like being hit by Regina George in 2008 and it was totally not awesome.The Euro zone is still very fragile,countries like Greece and Portugal are in the ****tiest place.A common currency almost failed in Europe,I really don't think it's gonna work in SE Asia.

It's probably not appropriate to say it's never gonna happen though since we'd never know what's gonna happen in the future,but an EU kind of integration in SE Asia is certainly not gonna happen anytime soon.
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