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Indo-Pacific Economic Architecture: An ASEAN Perspective
Published online by Cambridge University Press: 31 December 2019
Extract
For over five decades, countries in Southeast Asia and its surroundings in Asia, the Pacific Ocean, and Pacific Rim have enjoyed peace and stability, upon which economic growth and welfare have accumulated. The marvel of uninterrupted development has transformed them into a group of countries that are part of the engines of global economic growth. Over the period of 1967 until 2017, Southeast Asian region recorded growth in gross domestic product (GDP) per capita almost thirty-three times bigger, from USD 122 to USD 4,021. In 2016, the region represented 6.2 percent GDP of the world in 2016, almost doubled the share in 1967 at just 3.2 percent. The period also saw an immense trade growth from USD 9.7 billion to USD 2.2 trillion. Right now the region has become the third largest economy in Asia and the fifth largest in the world.
- Type
- Asia's Response to the U.S. Indo-Pacific Strategy
- Information
- Copyright
- Copyright © 2019 by The American Society of International Law
Footnotes
This Article is purely the author's academic and personal views and does not represent the views of the Government of the Republic of Indonesia.
References
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5 Id.
6 Marsudi, supra note 2.
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13 Id.
14 Association of the South East Asian Nations Charter, supra note 7, Art. 2(n).
15 ASEAN Protocol on Enhanced Dispute Settlement Mechanism, Art. 1.3 (Nov. 29, 2004).
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