Establishment of the AEC(ASEAN Economic Community)
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 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.
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.
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.
