Asian Nations Aspire Towards Eu-style Block

[george]

Asian nations aspire towards EU-style block

Reclusive Laos opened its first major international conference today, drawing together Asian nations in their aspirations for European-style economic integration.

The agenda included a free trade accord between Southeast Asia and China.

Senior officials from the 10-member Association of Southeast Asian Nations gathered in the Laotian capital to prepare for leaders summits Monday and Tuesday, grouping the core countries with partners China, Japan, South Korea, India, Australia and New Zealand in the region’s major annual meeting.

European Union-style is a huge challenge, especially for Southeast Asia, where standards of living vary widely and governments range from Brunei’s absolute monarchy to Thailand’s fledgling democracy.

“EU countries are almost the same, including their living standards and their human resources, but our region is still so different,” said Boualith Khounsy, the Laotian Finance Ministry official for ASEAN affairs.

The Laotian hosts of the ASEAN conference hope to use their debut to attract more sorely needed foreign investment and tourism to their landlocked and impoverished country of five million people.

ASEAN nations have been working on a free trade area, and at a summit last year agreed to create an economic community by 2010.

ASEAN and China are to sign an accord on Tuesday to set up a free trade area aimed at removing tariffs on merchandise goods by 2010. The two sides would begin tariff cuts in 2005.

--Agencies 2004-11-25

[sua yai]

Interesting. If these countries were able to put their religious and cultural differences aside, they would be an economic force.

Under present circumstances, that seems a little unlikely though.

[eljeque]

The Chinese in the region would like to form a grander monopoly of cheap labor to the world's sweat shops, but China has a jump on them right now. The integration of the SE Asian nations into one trading block will allow the local Chinese conglomerates to control the supply of manufactured products in the region and many agricultural products to the world's markets.

It is not beneficial for the world or for the workers of the region.