By drawing on its economic power, ASEAN can resist pressure to take sides in a world divided by power struggles, says political analyst James Chai.
Leaders of the Association of Southeast Asian Nations wrapped up their regional summit in Vientiane, the capital of Laos, on Oct 11, 2024. This is not only because both Harris and Trump's foreign and trade policy approach are directionally similar, save for the intensity , with Indonesia, Malaysia, Philippines, Singapore and Thailand as its founding members, was formed in the middle of one of modern history’s most ideologically contested periods, the Cold War .
Among others, ASEAN’s trade policy is the best signal of its pragmatic economic-first approach. Southeast Asia is the most heavily traded major region in the world, where trade accounts for 89 per cent of its gross domestic product, compared to the world average of 43 per cent. In 2000, ASEAN’s combined GDP was US$620 billion, which was one-eighth of Japan’s. Two decades later, ASEAN’s GDP is US$3 trillion compared to Japan’s US$5 trillion, and the region is projected to exceed Japan by 2030 to become the fourth-largest economy in the world.
The central idea here is to use economic strength, cemented in pragmatism and accommodation, as ASEAN’s bargaining reservoir to demand for continued neutrality and resistance against picking sides.
US Election Donald Trump China United States
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Commentary: US not walking the talk in Southeast Asia as Biden skips ASEAN Summit againUnited States President Joe Biden is, once again, not attending the ASEAN-US Summit. Though understandable given the upcoming presidential election, the US seems to be losing ground in Southeast Asia amid growing Chinese influence, says this ISEAS-Yusof Ishak Institute researcher.
Read more »
Commentary: Anticipating the first moves of Indonesia president-elect PrabowoThe next president of Indonesia has ambitious plans for his country but a widely anticipated expansion of his Cabinet could jeopardise quick results, says an ISEAS-Yusof Ishak Institute academic.
Read more »
Commentary: Hope returns to Kashmir after elections, but ultimate power still belongs to Modi’s governmentWith the opposition winning, some believed the election to be a de facto referendum on the territory’s special status which was taken away by Prime Minister Narendra Modi in 2019, says a Flinders University lecturer.
Read more »
Man gets life in prison for killing drunk neighbour in Punggol with victim’s knifeHeng Boon Chai, who has schizophrenia, had been convicted of killing his uncle in 2008.
Read more »
Asean power grid could create new jobs, bring investments to energy sector: StudySingapore has committed to importing 7.35GW of clean electricity from Cambodia, Vietnam and Indonesia, and Australia.
Read more »
Commentary: Newly elected and preparing for elections, Japan’s PM Ishiba is already on the defensiveWith an election looming, Japanese Prime Minister Shigeru Ishiba has good reason to moderate his stance on divisive national security proposals. But defence is still very much the big picture, says political scientist Yasuo Takao.
Read more »