Transformation of Asean Community to Aec and the Effects to Thailand
Introduction
Recently, the world has experienced financial crisis, those countries that have been powerful and have strong economies such as the members of European Union (EU) such as the United Kingdom, France and Greece, are facing a big financial collapse. So now a new economic community is arising with intense competition because new markets are developing and financial opportunities are sought. Association of South East Asian Nations (ASEAN) is one of significant players in the world’s economy for centuries. It has emerged strongly from the financial crisis offering the new opportunities for investors and businesspeople. The interest and attention of investment are moving to the ASEAN area more and more each year because of the available untapped market in the ASEAN and the potential of being the production base that eases and facilitates those new incoming traders and investors. Many investors have kept their eyes on the region’s performance and its transition into the ASEAN Economic Community (AEC) which is the newest area of economic integration in the world.
To study this economic bloc is significant in order to capture the great opportunities and prepare to be ready in taking the supreme advantages from the AEC. In the transforming processes, some practices will be applied to the members and that can make the difference between failure and success of the AEC project apparent. This could lead to a modification of the plan for AEC integration in the future, from the beginning of origin point to the change of community which takes place in four phases, its visions and four pillars. They should be taken into consideration to learn how it works to move forward because this economic community will possibly be the new engine of the world economy.
This essay consists of an introduction, explanation and clarification on the ASEAN and the AEC. In order to critically examine the AEC; most of its dimensions will be discussed. There are three areas included in the
Recently, the world has experienced financial crisis, those countries that have been powerful and have strong economies such as the members of European Union (EU) such as the United Kingdom, France and Greece, are facing a big financial collapse. So now a new economic community is arising with intense competition because new markets are developing and financial opportunities are sought. Association of South East Asian Nations (ASEAN) is one of significant players in the world’s economy for centuries. It has emerged strongly from the financial crisis offering the new opportunities for investors and businesspeople. The interest and attention of investment are moving to the ASEAN area more and more each year because of the available untapped market in the ASEAN and the potential of being the production base that eases and facilitates those new incoming traders and investors. Many investors have kept their eyes on the region’s performance and its transition into the ASEAN Economic Community (AEC) which is the newest area of economic integration in the world.
To study this economic bloc is significant in order to capture the great opportunities and prepare to be ready in taking the supreme advantages from the AEC. In the transforming processes, some practices will be applied to the members and that can make the difference between failure and success of the AEC project apparent. This could lead to a modification of the plan for AEC integration in the future, from the beginning of origin point to the change of community which takes place in four phases, its visions and four pillars. They should be taken into consideration to learn how it works to move forward because this economic community will possibly be the new engine of the world economy.
This essay consists of an introduction, explanation and clarification on the ASEAN and the AEC. In order to critically examine the AEC; most of its dimensions will be discussed. There are three areas included in the
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