Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(16)

Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia

Components of a national economy such as natural resource reserves, labor force abundancy, industrial structure and infrastructure condition are all dissimilar, more or less. This disparity inevitably results in economic gap among the ASEAN members. 

For example, in spite of the recent economic boost, CLMV countries (Cambodia, Laos, Myanmar and Vietnam) are estimated to possess only around 5% share of the overall ASEAN GDP (Growth Domestic Product). In this regard, this paper primarily concentrates on two countries.