Asian Regionalism and Economic Integration

China

Home to over 1.4 billion people as of 2018.

Japan

Adapted post-WWII to integrate into global economy.

Singapore

Emerging cosmopolitan city-state with diverse cultures.

Asia

Holds two-thirds of the world's population.

European Union

Mature regionalism model influencing global focus on Asia.

ASEAN

Association of Southeast Asian Nations promoting regional cooperation.

Regionalism

Concentration of economic flows within a region.

Regionalization

Political process of social integration within a region.

ASEAN+3

Partnership with China, Japan, and South Korea.

NAFTA

Free trade agreement among Canada, US, and Mexico.

European Union

Political and economic union ensuring free movement within EU.

Asian Development Bank

Provides loans and assistance to Asian member countries.

JICA

Japanese agency promoting international cooperation and development.

Production networks

Economies leverage comparative advantage through regional labor division.

Bilateral agreements

Individual countries form agreements outside regional institutions.

Santi Sulk village

Created local currency regulated by its central bank.

Globalization

Expansion of social relations across global time and space.

Regional integration

Process of uniting economies within a specific region.

Consensus rule

ASEAN decision-making process respecting member sovereignty.

Economic community

One of ASEAN's three pillars focused on economic collaboration.

Political security community

ASEAN pillar ensuring stability and security among members.

Socio-cultural community

ASEAN pillar promoting cultural exchange and understanding.

Comparative advantage

Economic principle guiding regional production specialization.

Cultural diversity

Variety of cultural beliefs complicating regional unity.

Economic structures

Framework established by ASEAN+3 Financial Ministers' Process.