Regional Integration in Asia

The global trend in regionalization includes adoption of democratic markets and economic institutions. Such neo-liberal economic reforms have been adopted in North America (NAFTA), the European Union (EU), and in Latin America and other regions. In Asia, there are a number of complexities that have prevented such adoption of neo-liberal economic reforms and democratic institutions. However, Asian regionalism continues to be driven by the ten members of the Association of South East Asian Nations (ASEAN). The members of ASEAN are: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Vietnam, and the Philippines. These countries are working together with China, Japan and South Korea and are collectively known as the ASEAN+3. In large part, China's liberalization of its economy and markets is fueling the push for regionalization. As the Asian Monitor reports:

The added urgency being given to closer economic integration has in part been caused by the growing economic influence of China across the region. ASEAN members fear they will increasingly find themselves losing out to China in exports markets and in the battle to attract foreign direct investment (Thailand 2003, 12).

Despite the drive toward regionalization, there are a number of obstacles and challenges that have stalled the development of regionalization comparable to that of Europe and North America. This analysis will look at these obstacles an

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ations in terms of economics, markets, politics, and culture. For example, even more than in Europe, Asia is a very complex and diverse region. Buddhist nations like Thailand are next door to Muslim nations like Malaysia. Furthermore, there is a great disparity among Asian nations with respect to economic and social development. For example, Japan has one of the strongest and biggest economies in the world, second only to the United States. In comparison, the GDP of Laos is barely a blip on the radar screen of the world's economies. Historical rivalries between China and Japan also remain problematic with respect to achieving true regionalization like that of the EU. Singapore is also adamant against open-door policies on matters like labor. As one analyst maintains: The problems of union are threefold: First is the large difference in incomes across east Asia, Second is currency barriers because the region would have to evolve policies and mechanisms that allow for a greater mobility of capital and labor across national boundaries, and third is national governments have to surrender a growing range of powers to supranational bodies (Singapore 2002, 1). Politically, there are also complex distinctions among the countries i

Category: Foreign - R