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ASEAN Economic Community: A Conceptual Approach [Pehme köide]

(Centre for European Policy Studies (CEPS), Brussels)
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ASEAN Economic Community: A Conceptual ApproachSuurem pilt
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The Association of Southeast Asian Nations (ASEAN) is building a single market and production base called the ASEAN Economic Community (AEC), in order to fully integrate itself into the global economy. This book discusses the economic importance and intricacies of the AEC and how the AEC will affect global businesses and policy makers.

The Association of Southeast Asian Nations (ASEAN) has experienced rapid economic growth for many years. Although the population of ASEAN is larger than the EU-28, the emerging ASEAN market, called the ASEAN Economic Community (AEC), is still little understood by policy makers in many parts of the world, by business professionals and students, as well as by scholars in economics, business, politics and economic law. This book provides, for the first time, a rigorous analytical approach of the new AEC and its intricacies. It sets out its ambition, scrutinises its economic integration logic and detects its deficits. Besides a detailed analysis of the AEC Roadmap, the book also elaborates on its achievements. Several strategic economic options for the AEC, in particular as an instrument to accelerate the economic development of the region, are explored.

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A conceptual study on the economic integration of the new ASEAN Economic Community.
List of figures
vii
List of tables
viii
List of boxes
ix
General editors' preface xi
1 Introduction and purpose
1(7)
2 Foundations of economic integration fundamentals, stages and credibility
8(67)
2.1 Fundamentals of economic integration and the AEC
8(10)
2.1.1 The political framework
9(2)
2.1.2 Long-term legal or other commitments
11(2)
2.1.3 Level of development and disparities in the group
13(1)
2.1.4 The `economic order' or the roles of markets and government
14(2)
2.1.5 Comprehensiveness or selectivity in the AEC
16(2)
2.2 The stages of economic integration and the AEC `vision'
18(22)
2.3 Why credibility and transparency matter
40(7)
2.4 Strategic choices about AEC design
47(7)
2.4.1 Strategic choice No. 1
48(1)
2.4.2 Strategic choice No. 2
49(2)
2.4.3 Strategic choice No. 3
51(2)
2.4.4 Strategic choice No. 4
53(1)
2.5 Economic rationale of the AEC
54(21)
2.5.1 A cooperative ASEAN-led growth development strategy
59(12)
2.5.2 A pro-competitive quasi-single market for development
71(4)
3 Conceptual foundation of the ASEAN Economic Community
75(41)
3.1 The AEC `vision' declared in Bali
75(3)
3.2 Recommendations from the HLTF
78(7)
3.3 Economic concepts of the Bali AEC `vision'
85(20)
3.3.1 What is free flow?
87(4)
3.3.2 What is the single ASEAN market?
91(6)
3.3.3 Production base
97(4)
3.3.4 What is equitable development in the AEC?
101(2)
3.3.5 What is ASEAN's economic competitiveness?
103(2)
3.4 How the Roadmap elaborates the AEC concepts
105(11)
4 Implementation of the AEC: progress in adopting instruments from the Roadmap
116(51)
4.1 Implementing the free flows
116(38)
4.1.1 Implementing the free flow of goods and ATIGA
116(1)
4.1.2 The free flow of goods and addressing NTMs
117(16)
4.1.3 Implementing the free flow of services
133(10)
4.1.4 Implementing the free flow of investment
143(3)
4.1.5 Implementing the free(r) flow of capital and of financial services
146(6)
4.1.6 Implementing other free flows
152(2)
4.2 Implementing the AEC's single market
154(7)
4.3 Implementing `ASEAN as a production base'
161(6)
5 A reality check: comparing the AEC and NAFTA on substance
167(14)
6 Options for the AEC and their practical implications
181(15)
6.1 The AEC as a single-market-minus
181(5)
6.2 ASEAN as a regional production base
186(5)
6.3 The AEC as a `living regional market and development' compact
191(5)
7 Conclusions
196(6)
Executive summary 202(7)
Appendix 1 209(2)
References 211(12)
Index 223
Jacques Pelkmans is a Senior Fellow at the Centre for European Policy Studies (CEPS). He is a seasoned observer of ASEAN economic integration and has written extensively on it in Asian and European publications. He has had a varied and extensive career which has combined technical as well as conceptual work on both European economic integration and on ASEAN, first on AFTA (the ASEAN free trade area) and later for the ASEAN Economic Community.