Southeast Asia and the ASEAN Economic Community

1. Southeast Asia and the AEC, an IntroductionGeography of the RegionHistory of the RegionEarly Identity and InfluencesThe Europeans and JapanASEAN: From Individual Countries to a RegionThe Economies of ASEAN and AEC in the Structure of This BookPart I: Six Large Economies2. The PhilippinesIntroductionHistory in BriefNational CharacteristicsFrom the 'Sick Man of Asia' to its 'Rising Tiger'Overview: The Philippine EconomyDrivers of GrowthEconomic FreedomThe Philippines in the AECOrigins of ASEANExtent of the MarketASEAN as a Competitive Production HubCost of Doing Business as a Key Determinant of Participating in AEC as a Production HubHow Do the Philippines Compete in Terms of the Costs of Doing Business?Human Resources: The Ultimate ResourceThe Philippines as a Dynamic Part of the ASEAN Production Hub: Way ForwardChallenges in the AEC for the PhilippinesProspectsLabour and Services ExportsResurgence in ManufacturingConstruction BoomTourismChallengesFinal Remarks3. The Vietnamese Economy at the CrossroadsIntroductionVietnam TodayHistorical BackgroundEconomic OverviewPolitical Regime and CultureThe Government of VietnamThe Economic Culture of Vietnam: Confucian and Communist LegaciesGlobal Integration and Transformation of Economic BehaviourTrade Liberalization and Consumer BehaviourThe Rise of the Internet and Its Economic ImplicationsThe Economic Leaders of Transitional VietnamThe Vietnamese SuperclassAspirations for Prosperity: The Start-Up FeverVietnamese Foreign TradeTrade OverviewWithin the ASEAN Region China Trade and FDITrade with Other PartnersWhither the Vietnamese Market Economy? Macroeconomic Stability under Political InfluenceSustainability AssessmentConclusion4. ThailandIntroductionEconomic Policy and Historical BackgroundNatural Resources, Strengths and Comparative AdvantagesUnskilled Labour and Migrant WorkersCompetitiveness and Ease of Doing BusinessEconomic Needs and WeaknessesResource scarcities (aging society, and severe degradation of natural resourcesInability to escape the middle-income trapSerious income distribution problemsEconomic FreedomCompliance with AEC InstitutionsConclusion on Thailand and the AEC5. Malaysia: Trade, Foreign Direct Investment and Regional IntegrationIntroductionHistorical and Developmental SnapshotsChanging Trade Posture and Investment DynamicsShifting Focus of Industrial PolicyGrowing Regional ConnectionsGlobal Track RecordConcluding Remarks6. Singapore: Working Towards ProsperityOverview of The EconomyThe Founding MythA History of GrowthThe Twentieth Century: From Policy to ResultsHuman Capital (Resource) DevelopmentThe Twenty-First Century: New HorizonsA New Growth MarketAn Attempt to Develop Regional TradeThe Region and Changing Investment Patterns In The 21st CenturyConclusion7. Indonesia: Choosing between the Privileged and ProsperityEconomic OverviewOrganization of the Economy Of IndonesiaThe Governments of Indonesia since IndependenceThe Impact of Islam On Indonesian PoliticsConclusionPart II: Four Smaller Economies8. Brunei Darussalam, a Country ProfileIntroductionSocio-Political Overview of BruneiEconomic Overview of BruneiNational Development Policies of BruneiBenefits of Regional IntegrationHarmonization of Policies, Standards and RegulationsReformation of Domestic Policies to Improve the Business EnvironmentIncreased Inflows of FDIWay Forward for Brunei9. Cambodia: Growth with a Red FlagIntroductionThe Economy in the Twentieth CenturyEconomic PerformanceTalent, Human Capital, and WagesSources of Future GrowthEconomic Priorities and International FundingHard and Soft Infrastructure for BusinessConclusions10. Laos in Need of Bolder Reforms for AEC IntegrationIntroductionRecent Developments in Economic IntegrationFrom ASEAN to the ASEAN Economic CommunityRegional Connectivity to Overcome Landlocked StatusAccession to The World Trade OrganizationEconomic PerformanceGrowth and Structural ChangeThe Growing Importance of Resource-Based ExportsConcentration of Trade with Very Few Trading PartnersLaos Participating In Labour-Intensive Production SharingSome Challenges and the Way ForwardTransforming Resource Wealth for Sustainable DevelopmentSupporting the Non-Resource Sector for Broad-Based GrowthImproving Hard and Soft InfrastructureConclusion11. Myanmar: On a Bumpy Road of TransitionIntroductionHistory, Society, CultureThe Myanmar Economy: A SnapshotThe Financial and Business SectorsLabor MarketEconomic PolicyStrengths and Weaknesses of the Myanmar EconomyStrengthsWeaknessesMyanmar's Integration in the International EconomyCompliance with ASEAN RulesOutlookPart III: Some Context12. China and the ASEAN Economies: Interdependence and RivalryIntroductionMore Recent DevelopmentsPlan of the ChapterTrade Relations between China and Southeast AsiaProduction Networks in East AsiaTrade Agreements and PoliciesSoutheast Asia and the Trade War between the United States and ChinaDemographic TrendsTrade and Made in ChinaEducation and R&D TrendsCapital Flows between China and Southeast AsiaHistorical and Recent Trends and DataThe Belt and Road InitiativeThe Asian Infrastructure Investment BankOther Dimensions of the RelationshipMonetary RelationsEnvironmental IssuesTerritorial DisputesPower Relations in the RegionConcluding Remarks13. ASEAN's Economic Community: ASEAN Way or Beijing's Way?ASEAN's Vision for Economic IntegrationNorms, Processes and the ASEAN WayUnravelling the Financial Crisis and its Economic ImplicationsAll Roads lead to China or ASEAN and Unequal TreatiesConclusion: Norms are What Strong States Make of Them14. Conclusion: The ASEAN Economic CommunityMember Nations of the AECIntegration of the ASEAN Economic Community