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East Asia Community
The East Asian Community (EAC) is a proposed trade bloc for the East and Southeast Asian (ESEA) countries that may arise out of either ASEAN Plus Three or the East Asia Summit (EAS). Economy History Prior to the EAS The Association of Southeast Asian Nations (ASEAN) was formed on 8 August 1967 by the Philippines, Malaysia, Thailand, Indonesia, and Singapore, as a display of solidarity against communist expansion in Vietnam and insurgency within their own borders. In 1990, Malaysia proposed a creation of an East Asia Economic Caucus composed of the then five members of ASEAN; Brunei, Indonesia, Malaysia, the Philippines, and Thailand. After a series of failures, ASEAN and its neighbors created another regional grouping the ASEAN Plus Three, established in 1997 and institutionalised in 1999. The significance of this grouping was demonstrated in the response to the Asian Financial Crisis of 1997. ASEAN Plus Three appeared to take the role of community building in East Asia. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Bloc
A trade bloc is a type of intergovernmental agreement, often part of a regional intergovernmental organization, where barriers to trade (tariffs and others) are reduced or eliminated among the participating states. Trade blocs can be stand-alone agreements between several states (such as the North American Free Trade Agreement) or part of a regional organization (such as the European Union). Depending on the level of economic integration, trade blocs can be classified as preferential trading areas, free-trade areas, customs unions, common markets, or economic and monetary unions. Use Historic trading blocs include the Hanseatic League, a Northern European economic alliance between the 12th and 17th centuries, and the German Customs Union, formed on the basis of the German Confederation and subsequently the German Empire from 1871. Surges of trade bloc formation occurred in the 1960s and 1970s, as well as in the 1990s after the collapse of Communism. By 1997, more than 50% of a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ASEAN Plus Six
ASEAN ( , ), officially the Association of Southeast Asian Nations, is a political and economic union of 10 member states in Southeast Asia, which promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration between its members and countries in the Asia-Pacific. The union has a total area of and an estimated total population of about 668million. ASEAN's primary objective was to accelerate economic growth and through that social progress and cultural development. A secondary objective was to promote regional peace and stability based on the rule of law and the principles of the UN Charter. With some of the fastest growing economies in the world, ASEAN has broadened its objective beyond the economic and social spheres. In 2003, ASEAN moved along the path similar to the European Union (EU) by agreeing to establish an ASEAN community that consists of three pillars: the ASEAN Security Community, the ASE ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
