The establishment of the AEC and its implication for South Korea(7)

The establishment of the AEC and its implication for South Korea

As the old saying goes, "United we stand, divided we fall", the countries will have their confidence built up step by step. The economic clout will be further strengthened if the ASEAN succeeds in actualizing the AEC. 

Consequently, the influence of the AEC on the regional security issues will be also growing bigger. Against this background, hopes are high that the beginning of the AEC will serve an opportunity to create a new landscape for the 21st century.

The establishment of the AEC and its implication for South Korea(6)

The establishment of the AEC and its implication for South Korea

In spite of the skepticism raised, the importance of the birth of a sizable single economic community shouldn't be underestimated. Along with Africa and South America, the ASEAN has been called as the symbol of underdeveloped areas. 

Thus, major powers like America, the EU and China would remain invincible if the ASEAN members try to compete with them individually. However, situation would be different if joint efforts of the 10 countries to cope with superpowers is designed and carried out.

The establishment of the AEC and its implication for South Korea(5)

The establishment of the AEC and its implication for South Korea

The question is whether the AEC can evolve itself something beyond a regional agreement body. Doubts are cast upon the significant disparity of the social and cultural environment among the member countries. In addition, neither a single currency nor a central decision-making tower as those in the EU can't be found. 

There exists considerable economic gap in the region as well. For example, Singapore is acclaimed to be in the rich Northern Hemisphere while Cambodia only records per capita GDP of about 1,000 USD. In this sense, it is no wonder that a tough itinerary is anticipated on the way to the substantial integration of the AEC.

The establishment of the AEC and its implication for South Korea(4)

The establishment of the AEC and its implication for South Korea

In fact, meaningful progress was already achieved since more than 70% of the intra-regional trade has been conducted free from any types of tariff. What will be the ASEAN like in the time of the AEC? It may be too early to forecast the AEC in 10~20 years when the AEC just pulled up its anchor. 

Even short-term outlook is not an easy thing to challenge as emerging markets with high volatility consist of most parts of the region. This could explain why negative voices concerning the future of the AEC started to be echoed.

 

The establishment of the AEC and its implication for South Korea(3)

The establishment of the AEC and its implication for South Korea

According to the AEC blueprint 2025, part of the ASEAN 2025, the AEC rests on four pillars; a single market and production base; a competitive economic region; equitable economic development; and integration with the global economy. The AEC has been expected to draw huge attention from the international society ever since it came into the world. 

It isn't too much to say that agendas of the AEC blueprint 2025 such as elimination of tariffs, facilitation of skilled labor mobility, liberalization of investment and promotion of connectivity have been greatly valued to the global community.

The establishment of the AEC and its implication for South Korea(2)

The establishment of the AEC and its implication for South Korea

10 ASEAN members are faced with their own weighty political or diplomatic issues as mentioned. However, all countries may share their uniformed look at the 'AEC(ASEAN Economic Community)'.

It is because the AEC came to the 2nd year of its ambitious inauguration 47 years after the establishment of the ASEAN in 1968. Along with the ASEAN Political-Security Community and the ASEAN Socio-Cultural Community, the concept of the AEC was born from the ASEAN 2025 adopted by the leaders of the ASEAN. 

 

The establishment of the AEC and its implication for South Korea(1)

The establishment of the AEC and its implication for South Korea

The ASEAN(Association of Southeast Asian Nations), the 7th largest economy in the world, seems quite noisy in the wake of the new year, 2017. Assassination at the airport of the capital city of Malaysia triggered huge fury from all over the world as the North Korean regime is suspected of the mastermind of the incident. 

While Myanmar is under international criticism for the massacre of its minority group, Indonesia sees social conflict with controversy of the majority religious party's alleged attempt to exercise influence on the political sector.

 

Recent startup boom across Southeast AStartup fever in Southeast Asia and its implication for India to improve indispensable public services(16)

Implication of Southeast Asia's startup fever for India to improve public services

This result clearly demonstrates the homework lying in the bottom of the Indian society. Startups armed with progressive social awareness can play significant roles in dissolving the messy fundamental public services especially those in education and health for the future of their country. 

This is none other than a right time for startups in India should open their eyes to Southeast Asia and try to learn the best lessons from their neighbors.

Recent startup boom across Southeast AStartup fever in Southeast Asia and its implication for India to improve indispensable public services(15)

Implication of Southeast Asia's startup fever for India to improve public services

According to this year's release of UNDP (United Nations Development Plan) on GII (Gender inequality Index), India was ranked 127th among the 189 surveyed nations in the world. All 10 members in ASEAN (Association of Southeast Asian Nations) received higher scores than India in terms of women's social status. 

Overall assessments on criteria encompassing maternal mortality ratio, share of seats in parliament and labor force participation ratio of India turned out alarmingly low.

Recent startup boom across Southeast AStartup fever in Southeast Asia and its implication for India to improve indispensable public services(14)

Implication of Southeast Asia's startup fever for India to improve public services

For instance, Halodoc, an Indonesian health tech startup, has been providing tele-consultations with doctors, pharmacy delivery, and at-home lab services through its mobile application with reasonable price options to remedy the underprivileged public access to the medical service. 

Truly, more and more startups in Southeast Asia are joining to unravel rampant shortages and inefficiencies of basic public services including primary education and health on the spot.

 

Recent startup boom across Southeast AStartup fever in Southeast Asia and its implication for India to improve indispensable public services(13)

Implication of Southeast Asia's startup fever for India to improve public services

Most local startups have been allegedly involved in the apparently growing and thus lucrative business fields such as e-commerce, accommodation and transportation industries. 

Of course, this is no exception to their peers in Southeast Asia. However, continuous efforts to tackle long distorted public services have been reported from Southeast Asia.