SS

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Introduction There is a rapid economic development of the Southeast Asia these years. Vietnam, Malaysia, Thailand are the rising power of the region. Thus, their action starts to draw more attention. For example, A Thailand millionaire used 230 million U.S dollars to purchase the stock of Fraser and Neave, Limited. This shakes the dominant status of Heineken. Another example is the Genting Group in Malaysia, it spends 4000 million U.S dollars to build a casino resorts in New York and Miyami (Netease, 2013). Because of the rising, countries are more active in multilateral cooperation. ASEAN becomes a more important platform to achieve. Influence of ASEAN is increasing. Therefore, ASEAN is worth to be concerned. In the following parts Prospects and constraints will be covered. Prospects There are constraints including the economic community of the Southeast Asian countries, managing external relations and managing external relations. Economic community of the Southeast Asian countries At the beginning of establishment, ASEAN served as an alliance to prevent the expansion of Communism. Function concentrated on political mutuality and military dialogue. After the end of Cold War, it changed to purse economic cooperation (Acharya, 2001). This is related to globalization which offers new opportunities of chance and threat. For chance, world trade prevails after the end of Cold War. Economic opening is way to absorb foreign capital for investment. Foreign direct investment becomes important for Southeast Asia as it creates employment and import of advanced technology. In terms of trade, selective controls of imports and promotion of export enhance economic growth. However, it requires strong coordination among states. So, ASEAN ma... ... middle of paper ... ...ealand and India in order to form Comprehensive Economic Partnership in East Asia (CEPEA). Economic integration of the East Asia can be strengthened. Development difference can be narrowed. Achievement of economic globalization is the long term goal of ASEAN+6. The Economic Research Institute for ASEAN and East Asia (ERIA) is another product. It is established in 2008. It is responsible for providing academic basis for regional development and Making contribution to economic integration. It also provides a room for communication between policymakers, researchers and stakeholders. In 2013, ASEAN+6 started to discuss the creation of Regional Comprehensive Economic Partnership (RCEP). These makes ASEAN countries can manage disputes in a soft way. In the future, ASEAN should maintain this way in order to ensure world peace and regional prosperity (ASEANCENTER, 2014).

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