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Regional Economic Integration Case Study

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Final : Business and International Relations Topical Issues By : Anggun Dewi Astuty/ IRE 3-2014 (016201400015) Lecturer : Indra Alverdian Answer these following 2 questions! 1. What are the motivations behind ASEAN’s pursuit of promoting institutional regional economic integration? 2) Has ASEAN achieved its objective of achieving economic growth through promoting regional economic integration? 2. List and define (at least) two types of regional economic integration. b) Discuss the problems inherent in each of the types you listed under a, c) Explain the concept of trade creation and trade diversion using two examples? Answers: 1 a. Economic Integration is something that is now quite mainstreamed in the conduct of global economy. Economic …show more content…

Also, the opportunities and attributes possessed by ASEAN member countries that would resulted in better outcome with the establishment of the integration itself. ASEAN is a region that its average growth in GDP since 1970’s outpaced every other region in the world, with poverty rate that decreased 11% in span of 13 years. Not to mention market opportunity as middle class rise significantly, predicted to reach 125 million in 2025,that ensures a healthy consumptions, as well as productions to keep the economic engine pumping. With almost 10% of the total world population resides in the region that mostly in demographic bonus phase, would guarantee an unending reserve for human resources (Skyperman, 2016; Pooittiwong & Ramirez, 2016). ASEAN GDP accounted for US$ 2.4 trillion and projected to be ranked fourth globally in 2020 and since 1990’s the growth is attained from productivity as manufacturing, transportation, among other sectors are growing in efficiency. Despite the crippling economic crisis in 1997, ASEAN countries since then are able to maintain economic stability across the region and fare remarkably in the global financial crisis in 2008. Government debt is also on lower rate than even countries that is known for its mature market, such as UK and US. ASEAN also, in terms of geographical location, is located in the most strategic international trade flows as well as natural-resources-rich

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