Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(47)

Comparative Study on the Perception and Response of Singapore and Indonesia

Above all things, doubts are cast upon the massive disparity of the social and cultural environment among the member countries. There exists considerable economic gap in the region, too. 

For instance, Brunei, an oil-producing country was shined with its per capita GDP of 28,240 USD in 2017 while Cambodia, one of the poorest countries in the region only recorded per capita GDP of 1,390 USD during the same period.

 

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.

 

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

Establishment of the AEC and its implication for South Korea

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.