INTEGRATION POLICY OF EAST ASIAN STATES AFTER THE GLOBAL FINANCIAL CRISIS OF 2008-2009
L. V. DROZDOVA
Graduate student
С.Е. ПАЛЕ
Candidate of Historical Sciences
Institute of Oriental Studies of the Russian Academy of Sciences
Keywords: integration processes, ASEAN, dialogue partners, common Economic Community, national currencies, foreign economic settlements
The global financial and economic crisis of 2008-2009 significantly affected the development of the countries of Southeast Asia (SE), while at the same time making adjustments to the plans of the main regional organization - the Association of Southeast Asian Nations (ASEAN). In particular, the task of creating a new government by 2015 was called into question. The ASEAN Economic Community.
This goal, which was announced in 2007 and confirmed at the 21st ASEAN Summit in 2013, was to build a single trade and investment space covering all 10 ASEAN countries - Indonesia, Malaysia, Singapore, Thailand, the Philippines, Brunei, Vietnam, Laos, Myanmar and Cambodia, and, if possible, Their ASEAN+6 dialogue partners are China, Japan, the Republic of Korea, India, Australia and New Zealand. It is also worth recalling that the ASEAN+6 actively involves Russia and the United States in trade cooperation. We will discuss below how close the Southeast Asian countries and their dialogue partners are to implementing the idea of East Asian financial and economic integration, and what factors will be key for this.
Plans to create a single economic community in Southeast Asia began to appear since the Asian crisis of 1998. At that time, the IMF's recommendations to get out of the recession with austerity measures did not have the proper effect, and the ASEAN countries had to look for other ways to solve the problem. Since the region's industrial and agricultural sectors are export-oriented, their economic recovery has been helped by the devaluation of national currencies to attract indirect investment from foreign partners, most ...
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