Connect with us

Asean

Social Entrepreneurship: A Tool for ASEAN Integration?

2015 is a year of economic change for the Association of Southeast Asian Nations (ASEAN), as the region seeks to establish the ASEAN Economic Community (AEC) by December 31.

Boris Sullivan

Published

on

2015 is a year of economic change for the Association of Southeast Asian Nations (ASEAN), as the region seeks to establish the ASEAN Economic Community (AEC) by December 31.

The AEC will usher in a single economic market for the ASEAN member nations – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam – allowing the free movement of goods, services, skilled labor, and capital.

The reorganization of the region’s economy will be a step toward ASEAN’s “Vision 2020,” which calls for a unified partnership that is outward-looking, peaceful, stable, prosperous, and developing in a dynamic way.

As ASEAN nations open their economies to the freer flow of capital, they may also open themselves to some short-term economic and social disruptions that often occur when more liberal economic logic takes precedence over protective social policies. The region will need more than economic cohesion, however, to accomplish Vision 2020.

As ASEAN nations open their economies to the freer flow of capital, they may also open themselves to some short-term economic and social disruptions that often occur when more liberal economic logic takes precedence over protective social policies.

The AEC is expected to boost regional trade and create new investment and employment opportunities, but members will also face a range of challenges to ensure that economic growth is inclusive and beneficial to all.

There is a fear, indeed, that regional integration based purely on the rules of a market economy may favor those with capital and harm those without it.

There is also a fear that opening national borders to new products and new companies, while offering more choice and lower prices for consumers, may also hurt less competitive local producers or farmers.

The AEC, thus, presents a challenge to Southeast Asia: to create a regional model that provides both an open economy and social support for less developed nations, and in turn, its poorer citizens.

Source: Social Entrepreneurship: A Tool for ASEAN Integration? | In Asia

Comments

Asean

The Latest on Covid-19 in Southeast Asia

Thailand has largely avoided widespread community transmission of Covid-19, but the kingdom is not faring well on the economic front, with a projected contraction of 7.1 percent this year.

Avatar

Published

on

Coronavirus Asia

As a region, Southeast Asia has fared relatively well in keeping coronavirus cases low, with the notable exceptions of the Philippines and Indonesia.

(more…)
Continue Reading

Laos

China’s debt-trap diplomacy: Laos’ credit rating downgraded to CCC

Laos’ debt challenge is deeply concerning, with some media commentators suggesting the country is falling into a debt trap as a result of Chinese infrastructure investments connected to the Belt and Road Initiative (BRI)

Boris Sullivan

Published

on

On 23 September, the Fitch Ratings agency downgraded Laos’ credit rating to CCC — the second downgrade in 2020, having dropped to B- in May.

(more…)
Continue Reading

Vietnam

Foreign capital still heads to Vietnam

As many as 798 projects added a combined over 5.11 billion USD to their investment capital, down 23 percent year-on-year in project number but up 6.8 percent in value.

Avatar

Published

on

Hanoi (VNA) – The total amount of foreign investment poured into Vietnam this year to September 20 reached 21.2 billion USD, equivalent to 81.8 percent of the same period last year, reported the Ministry of Planning and Investment.

(more…)
Continue Reading

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,632 other subscribers

Trending