ASEAN regionalism and integration

Created by

Aria Canaya

Cards (10)

Asian regionalism 
A new concept among the continental communities, with the 50-year-old ASEAN group and the failed East Asia Economic Group (EAEG)
ASEAN community 
Comprised of three pillars - political, security community, economic community, and socio-cultural community
Political-security community focuses on 
Human rights
Drugs
Foreign relations
Defense
Law
Transnational crimes
ASEAN has significant roles of monitoring 
Economic ministers
Finance ministers
Central bank governors
Free trade area
Investments area
Agriculture and forestry
Transport ministers
Telecommunications and information technology ministers
Science and technology
Energy
Minerals
Tourism
Free trade agreements with dialogue
Socio-cultural community cooperation among ministers responsible for 
Culture and arts
Sports
Disaster management
Education
Environment
Health
Information
Labor
Rural development and poverty eradication
Women
Youth
Civil service matters
ASEAN +3 
ASEAN has partnered with China, Japan, and South Korea to address the 1997 Asian financial crisis and help each other cope with the crisis
NAFTA 
A free trade pact between Canada, the United States, and Mexico, created to help reduce trading costs, increase business investment, and help North America be more competitive in the global marketplace
European Union (EU) 
A political and economic establishment to ensure the free movement of people, goods, services, and capital within the EU's single market
Factors leading to greater Asian integration 
Market-driven integration
Establishment of formal institutions like the Asian Development Bank
Economic grants and overseas development assistance
Expansion of production networks
Cooperation among ASEAN and East Asian countries
ASEAN follows a consensus rule as an approach to decision-making, which prevents the collision of cultural beliefs and economic policies due to the region's diversity