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Jakarta Post

The US and ASEAN: Deal or no deal?

Jakarta   /   Tue, March 7, 2017   /  03:39 pm
The US and ASEAN: Deal or no deal? Illustration of ASEAN cooperation. (Shutterstock/File)

Should the United States and ASEAN make a trade deal? First, let’s discuss the facts and trends of the economies. Based on the value added, five out of seven gainers in terms of value added in the manufacturing sector — the ones that have increasing trends of value added — in the last three decades were developing countries. They are China, Korea, India, Indonesia and Thailand. Based on Purchasing Power Parity (PPP) total output — PPPbased gross domestic product (GDP) — six out of the seven largest economies in 2050 will be today’s emerging economies: China, India, Indonesia, Brazil, Russia and Mexico. The US economy will be the third largest, after China and India. ASEAN economies, the Philippines, Vietnam, Malaysia and Thailand, together with Indonesia will be among the top 25 largest economies. That is the fact that there has been and will be ...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.