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After 50 Years of Progress, It’s Time for ASEAN's Next Economic Revolution

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After 50 Years of Progress, It’s Time for ASEAN's Next Economic Revolution

World Economic Forum,

5 min read
5 take-aways
Audio & text

What's inside?

ASEAN countries have made significant advances in 50 years, but they still face major challenges.

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Editorial Rating

8

Qualities

  • Analytical
  • Overview
  • Visionary

Recommendation

The countries of the Association of Southeast Asian Nations (ASEAN) – which celebrates its 50th anniversary in 2017 – have made much progress since the group’s founding. Yet ASEAN members still face challenges: Rapid urbanization is straining the resources of major cities, small farmers in these countries are struggling to survive and deforestation adds to environmental sustainability issues. Author Chandran Nair looks at how far ASEAN countries have come and what they could do to accomplish more in the 21st century. getAbstract recommends this succinct analysis to policy makers and business executives interested in this region.

Summary

The year 2017 marks the 50th anniversary of the signing of the Bangkok Declaration, which created the Association of Southeast Asian Nations (ASEAN). In 1967, the ASEAN countries’ populations totaled a mere 184 million, and their economies were mostly undeveloped. Singapore, the richest ASEAN member, had achieved economic output of only $600 per capita. The poorest member, Indonesia, produced just $56 of GDP per capita. And only about 25% of ASEAN’s populations lived in cities. Fast-forward 50 years: The association has gained six more members, and its total population stands at 625 million. Its...

About the Author

Chandran Nair is the founder and CEO of the Global Institute for Tomorrow, a think tank.

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