Strengths and Weaknesses of ASEAN

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The Association of South Eastern Asian Nations (ASEAN) is a group of ten countries aiming to spur economic growth among its member countries. The next step for ASEAN, states Hilary Walsh, Economy Finance and Trade Manager at Euromonitor, is to create a European-style economic block, which the group hopes will be in place by 2015. Although the agreement will lower barriers to trade and investment in the area, ASEAN countries must be cautious of economic integration, as economic problems among groups can lead to contagion, much like the European Union’s debt crisis.

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The Association of South Eastern Asian Nations (ASEAN) is a group of ten countries aiming to spur economic growth among its member countries. The next step for ASEAN, states Hilary Walsh, Economy Finance and Trade Manager at Euromonitor, is to create a European-style economic block, which the group hopes will be in place by 2015. Although the agreement will lower barriers to trade and investment in the area, ASEAN countries must be cautious of economic integration, as economic problems among groups can lead to contagion, much like the European Union’s debt crisis.

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