ASGE_ASEAN by Huey Wern https://padlet.com/huey_wern/134ppgwsms0r Wrap up for ASEAN en-us 2018-01-25 05:55:29 UTC 2025-12-23 19:05:06 UTC hello@padlet.com One of the main purposes of forming ASEAN is economic integration; generally discuss the advantages and disadvantages of this economic integration: huey_wern https://padlet.com/huey_wern/134ppgwsms0r/wish/224519651 2018-01-25 05:58:08 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224519651 Economic Integration huey_wern https://padlet.com/huey_wern/134ppgwsms0r/wish/224530772 Economic integration can be defined as a kind of arrangement where countries get in agreement to coordinate and manage their fiscal, trade, and monetary policies in order to be mutually benefited by them. There are many degrees of economic integration, but the most preferred and popular one is free trade. ]]> 2018-01-25 07:32:48 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224530772 ASEAN consists of Thailand, Vietnam, Laos, Cambodia , Brunei, Myanmar, Singapore, Malaysia, Indonesia, Timor Leste and Phillipines. https://padlet.com/huey_wern/134ppgwsms0r/wish/224542684 2018-01-25 08:21:36 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224542684 To promote economic growth https://padlet.com/huey_wern/134ppgwsms0r/wish/224542872 To accelerate the economic growth through cooperation between members and  strengthen the foundation for a prosperous and peaceful community of Southeast Asian nations, greater utilisation of their agriculture and industries, the expansion of their trade, including the study of the problems of international commodity trade.


]]> 2018-01-25 08:22:28 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224542872 Trade Benefits dimickoasghary https://padlet.com/huey_wern/134ppgwsms0r/wish/224543159  Improved availability and wider selection of goods and services; and efficiency gains that lead to greater purchasing power

(a) wider selection of goods and services not previously available; (b) acquire goods and services at a lower cost after trade barriers due to lowered tariffs or removal of tariffs (c) encourage more trade between member countries the balance of money spend from cheaper goods and services, can be used to buy more products and services.

]]> 2018-01-25 08:23:47 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224543159 https://padlet.com/huey_wern/134ppgwsms0r/wish/224543170 2018-01-25 08:23:50 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224543170 Safeguard political stability https://padlet.com/huey_wern/134ppgwsms0r/wish/224543220 To safeguard the political stability of the region against big power rivalry, and promote regional peace and stability ]]> 2018-01-25 08:24:02 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224543220 https://padlet.com/huey_wern/134ppgwsms0r/wish/224543355 2018-01-25 08:24:33 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224543355 Employment Opportunities: As economic integration encourage trade liberation and lead to market expansion, more investment into the country and greater diffusion of technology, it create more employment opportunities for people to move from one country to another to find jobs or to earn higher pay. For example, industries requiring mostly unskilled labor tends to shift production to low wage countries within a regional cooperation https://padlet.com/huey_wern/134ppgwsms0r/wish/224543632 2018-01-25 08:25:36 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224543632 Provide training and research for human capital https://padlet.com/huey_wern/134ppgwsms0r/wish/224544184 To provide assisantance to each member of asean in terms of training and research in educational  professional, technical and administrative areas.


]]> 2018-01-25 08:27:52 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224544184 https://padlet.com/huey_wern/134ppgwsms0r/wish/224544187 Disadvantages Of Economic Integration

 
Creation Of Trading Blocs: It can also increase trade barriers against non-member countries.
 
Trade Diversion: Because of trade barriers, trade is diverted from a non-member country to a member country despite the inefficiency in cost. For example, a country has to stop trading with a low cost manufacture in a non-member country and trade with a manufacturer in a member country which has a higher cost.
 
National Sovereignty: Requires member countries to give up some degree of control over key policies like trade, monetary and fiscal policies. The higher the level of integration, the greater the degree of controls that needs to be given up particularly in the case of a political union economic integration which requires nations to give up a high degree of sovereignty.
]]> 2018-01-25 08:27:53 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224544187 Creation Of Trading Blocs: It can also increase trade barriers against non-member countries. https://padlet.com/huey_wern/134ppgwsms0r/wish/224544821 2018-01-25 08:30:11 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224544821 https://padlet.com/huey_wern/134ppgwsms0r/wish/224544838 1. creation of trading blocs
2. trade diversion
3. national sovereignity]]> 2018-01-25 08:30:18 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224544838 Greater Consensus https://padlet.com/huey_wern/134ppgwsms0r/wish/224544881 Unlike WTO with hugh membership (147 countries), easier to gain consensus amongst small memberships in regional integration

Political Cooperation: A group of nation can have significantly greater political influence than each nation would have individually. This integration is an essential strategy to address the effects of conflicts and political instability that may affect the region. Useful tool to handle the social and economic challenges associated with globalization

Employment Opportunities: As economic integration encourage trade liberation and lead to market expansion, more investment into the country and greater diffusion of technology, it create more employment opportunities for people to move from one country to another to find jobs or to earn higher pay. For example, industries requiring mostly unskilled labor tends to shift production to low wage countries within a regional cooperation
]]> 2018-01-25 08:30:34 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224544881 Economic integration removes barriers to foreign investors, minimizing or abolishing extra tax, while advanced integration policies, such as a monetary union, can even eliminate the cost of currency exchange. https://padlet.com/huey_wern/134ppgwsms0r/wish/224545072 2018-01-25 08:31:31 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224545072 https://padlet.com/huey_wern/134ppgwsms0r/wish/224545664
Opportunity to earn more. 

  • Since the region’s 10 economies are integrated into one large economy, the move could lead to larger market opportunities for intra-ASEAN trade in local materials and products, thereby creating more job opportunities across the ASEAN, meaning more foreign investments in our country, and for business owners, more potential customers to sell their products to.

Opportunity for more jobs locally. 

  • Similar to the one stated above, an integrated and open ASEAN economy and allows for more cross-border investments that will mean more job opportunities not only in our country but across the ASEAN region. It is important to note that one of the goals of the AEC is to decrease unemployment and underemployment across all ASEAN Member States.

Opportunity to work in any country in the region. 

  • Having a job while being able to immerse yourself in a different country and culture is what most of us can only dream about before. Thankfully, ASEAN is already paving the way for us so we can make our dreams turn into a reality. Through the Mutual Recognition Agreement,  skill-sets honed in one ASEAN country will be held with equal value in another ASEAN Member State.
]]> 2018-01-25 08:34:03 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224545664 Economic Integration https://padlet.com/huey_wern/134ppgwsms0r/wish/224546483 The elimination of tariff and non tariff barriers to the flow of goods, services, and factors of production between a group of nations, or different parts of the same nation.

]]> 2018-01-25 08:38:24 UTC https://padlet.com/huey_wern/134ppgwsms0r/wish/224546483 Study the problems of international trade huey_wern https://padlet.com/huey_wern/134ppgwsms0r/wish/224548430 To study the problems of international community trade, the improvement of their transportation and communications facilities and the raising of the living standards of the nations.

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