The ASEAN Economic Community and Beyond: Myths and Realities

Following the policy of open regionalism, ASEAN has also signed free trade agreements with Australia, New Zealand, China, India, Japan and South Korea. It has launched negotiations for the Regional Comprehensive Economic Partnership (RCEP) agreement in 2013, with expected breakthrough by end-2015.

The Southeast Asian economies are also involved in two other regional initiatives. First is the Trans-Pacific Partnership (TPP), initiated by the United States. As part of the U.S. “pivot to Asia”, the TPP is envisioned as a “comprehensive and high-quality” agreement and has concluded its negotiation in October 2015. Second, the discussions on regional connectivity have broadened; China has emerged as a recent lead proponent with its proposals for “One Belt, One Road” and the Asian Infrastructure Investment Bank. 

All these together have implications not only for individual Southeast Asian countries but also for regional trading architecture. To aid in understanding the beginnings, development, and potential of these grand plans, this collection of 22 essays offers a rich analysis of ASEAN’s own economic integration and other related initiatives proliferating in the broader Asia-Pacific region.