Abstract
Think locally, acting globally. With this motto in mind, this paper aims to show how the becoming ASEAN and its powerful neighbors could avoid costly errors in forming a working union of nations by not looking at the completed total rather than a first, tangible step. By looking at the European Union and how it became what it is today, Asia will be able to avoid exaggerated expectations towards the speed at which a solid agreement can be reached. Especially in regards to the psychological mindset of decision makers grown up in nation centered rather than globally oriented societies will Europe be able to provide a lesson. The paper concludes that a working economic union should be the first step on the way to a united Asia. The underlying condition that most of Asia’s economies are controlled by Chinese emigrants provides for a notion which shall be explored as a possible stepping stone on the way to a working economic integration.
Highlights
Having monitored the emerging of the European Union EU over the past few years, there are no doubts that there are many challenges to extended regionalization, such as unemployment, high taxation and lopsided regional development
ASEAN has made up its own kingdom which is similar to the European Union (EU) in Europe
As was the case for the EU, it seems that Asia can build up an economic group which involves most of the Asian countries, similar to what was done in the EU
Summary
Having monitored the emerging of the European Union EU over the past few years, there are no doubts that there are many challenges to extended regionalization, such as unemployment, high taxation and lopsided regional development. In watching the economic growth of EU members and the emergence of the Euro and its relative strength to the U.S dollar, it is apparent that the prospects of prosperity and a brighter economic future far outweigh the challenges. The success of the EU should cause members of ASEAN (Association of South East Asian Nations) to work closely together to further develop and strengthen their economic and cultural ties, for the benefit of all members
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