1. ASEAN Centrality and the ASEAN-US Economic Relationship
- Author:
- Peter A. Petri and Michael G. Plummer
- Publication Date:
- 03-2014
- Content Type:
- Policy Brief
- Institution:
- East-West Center
- Abstract:
- ASEAN has become a focal point of the rapidly changing economic architecture of the Asia-Pacific region. ASEAN members are increasingly stable and politically confident, and constitute an emerging economic powerhouse. The region is dynamic, with 600 million citizens and a gross domestic product (GDP) that exceeds $2 trillion and is expected to grow 6 percent annually for the next two decades. (The Appendix at the end of this paper reports detailed output and trade projections to 2025.) Through deeper internal integration via the ASEAN Economic Community (AEC) and external initiatives such as the Regional Comprehensive Economic Partnership (RCEP), ASEAN is becoming a driving force in regional cooperation and a much-courted economic partner. The AEC and the RCEP projects are globally significant: the AEC could generate powerful demonstration effects for other developing regions, and the RCEP could become an important building bloc of the multilateral trading system.
- Topic:
- Security, Economics, International Trade and Finance, and Markets
- Political Geography:
- United States, East Asia, Asia, and Asia-Pacific