Asian Economic Integration to Compate the Global Economic Challenges
Sri Septiany Arista Yufeny Background Nowadays, the development of the world more stipulate the integration intensity dan nation interdepedence, even Asia it self. Asia as the biggest continent and has the greatest number of society in the world. Asia consist of 50 sovereign nations and has 5 region that are Centre Asia, East Asia, Southeast Asia, South Asia and West Asia. Asia has the centre of trade and has the biggest natural resources . Therefore, Asian Nations need to involve in one integrity to give mutual support each other. This integration need to keep the balances and the proximity of social, economic, and politic integration so that it will be able to associate the complex society and bear the biggest unity for Asian Nation. However, this integration and cooperative relationship not for the only one nation benefit, but this Asian integration has aim to be the strong instrument to overcome the interdependence consequence. This issue need to knock all of the Asian Nation act to contribute them self over the Social, economic, and political increase wheter in Regional or global. Definition and Legal basis concerning Asian Integration System In this context, there are two issues to be clarified: (1) the meaning of “integration”; (2) the meaning of “region”. Integration refers to the unification of a number of previously independent units into a larger whole; region intergartion, then, is a process describing the degree of unity existing within a particular region system. So, the definition of Asian Integation system is the process describing the degree of unity existing within a particular Asian system. Nowadays, there is no exactly legal basis for Asian Integration system rules. Commonly, the Legal basis which asian nation has is the general principle of International law. And the most legal basis that asian nation always use are the convention and international agreements/ treaty wheter in Asian region or in other countries. One example of Asian Integration system that makes Asia can be justified as part of a large community is the establishment of “Regional Integration Agreements” (RIA) which are the most Commonly understood as associations of roomates economies have agreed to liberalixed their intra-trade association under a certain set of market access conditions. Not only RIA that can be established if the Asian countries are aware of the importance of this system integration that can be mutually beneficial asian nation interstate and can be a force in the world. Main Fact of Economic Integration Economy is a major milestone in the life of a nation. The continued development of the national economy will also increase the prosperity and welfare of the nation. This case which requires a country to continue to survive and develop themselves economically. Moreover, in globalization era that requires interdependence of all countries is realized through international relations. Therefore, Asian Integration System is highly recommended to tackle this issue. Based on the Asian Economic Monitor that released on October 2013 at semiannual review of Asia’s regional economic cooperation and integration which cover 48 regional members of the Asian Development Bank, this semiannual review has some higlights that show how is exactly the Economic Integration In Asia. The highlights are about the plodding economic G3 recovery over Japan and United States has begun to strenghten, The economic outlook for developing Asia has three major risk, that is (i) Increades volatility in global and regional financial markets in particular due to uncertaintes over monetary and fiscal policies in advanced economies; (ii) a more pronounced alowdown in major regional economies than expected such as PRC, India, or Indonesia which will affect other economies within the region; (iii) a distruption in the G3 recovery. Over this monitoring, resulted that five years after the global financial crisis, the world economic remains in transition; policy responses in advanced economies have been unpredictable, adding to market uncertainty, fueling volaitilitym and threatening economic stability. And in this monitoring has two theme chapter issue, there are (1) Toward an ASEAN Economic Community and Beyond which has progress that ASEAN seeks to create an ASEAN Economic Community (AEC) by 31 December 2015, but it is likely to fall short of its own targets deadline. Overall, the AEC scorecard shows that since 2008 ASEAN has made slow but steady progress (68% by 2011) in reaching AEC Targets. And Even if reform proceeds apace, the real test for the AEC will lie in the years beyond in trade facilitation, liberalization of services, investment, labor mobility, competition policy, regional trade agreements, and complience among others. In this Asian economic integration system, let us analyze more about the upcoming ASEAN Economic Community (AEC) which will be held on 2015. How exactly this community will give an impact to the Asian Economic Integration? This ASEAN Economic Community (AEC) will comptete the Asian economic be better than before, because this integration will help increase the ASEAN competitiveness with china and India. The delayed issues such as agriculture, non- tarrif barries, integration of the less developed (Cambodia, Laos, Myanmar, and Vietnam) members and financial integration remain to be worked out. The benefit of AEC to Asian countries are: a. It will open more regional cooperation and will improve the scale efficiencies, dynamism, and competitiveness of ASEAN members. b. All ASEAN Countries are more important to foreign inversits if they are considered as one node in larger regional market nearly 600 million people- single market. c. Tourisms opportunity, Asians travels more in the region and there are more travelers form other countries that have begun to reach out to Asia as new visitors. d. Internationalization of helath care under the AEC. The AEC is definetely work in progress, Asia has opportunity to face the global economic through this AEC because it gives new opportunity for sales, investment, and egangement with Asia. The problem is, AEC in some ASEAN societies has opinion include Indonesian that this AEC will decrease their country. This is supportef by the data from ASEAN Economic Business Survey : This fearness will give an impact for the establishment of ASEAN Economic Community, will this AEC held on 2015, postponed, or will be discontinued progress towards the 2015 AEC. Though it is known that the AEC is a form of regional economic integration is the main agenda of ASEAN for Southeast Asia build integrated in development equitable economic and reducing socio-economic disparities. Arguments about Asian Economic Integration System The integration has aim to unification all the nations in one unity over the Asia. The problem such ASEAN Economic Community (AEC) wich will bear the new breath of economic side in Asia couldn’t be react as a virus or poison wich will disintegrate Asia. But, this ASEAN Economic Community will bring ASEAN competitiveness increase so it will be able to make Asia has ability to compete the global economic issue. There is sollution to overcome this problem. Make the ASEAN Societies feel the advantages of AEC so the societies will take action to involve in. The way is Build the new special organ to supervise and coordinate administrative tasks to set up and establish policies, coordinating, implementing, and enforcing agreements and protocols present and future.. This organ should be managed by citizens who are formally independent of government of ASEAN so as to administer a program to accelerate economic integration, enforcing fairness in trade, as well as support for the government who will be the main institutional ASEAN. First is ASEAN Court of Justice established that will be responsible for the settlement of disputes, and the second is Secretariat of the ASEAN Economic policy is responsible for the management of AEC. Conclusion To fulfill the interdependence, cooperation fulfillment needs, the integration among fellow Asian countries should be held. One form of integration that is the economic integration in which there will be formed again Integration of Asian regional economies. One form of economic integration which again developed today is the ASEAN Economic Community (AEC), which has several advantages that will make Asia can compete economically competitive in the world economy. However, it is an obstacle for the AEC is still a lack of awareness for implementing the state to contribute to the future development of the AEC. One solution that can be held, namely the establishment of several institutions in order to engage the public trust. The agency is the Court of Justice and the ASEAN Secretariat ASEAN Economic. Bibliography Asian Development Bank. Asian Economic Integration Monitor. 2013 online. ( http://www//adb/org/publications/asian-economic-integration-monitor-october-2013 ), accessed on 23 April 2014 2: 18 WITA Business in Asia. Asia Opportunities: ASEAN Economic Community (AEC) in 2015. Online ( Http://www.business-in-asia.com/asia/asean_economic_community.html ), accessed on 23 April 2014 2. 49 WITA Sri Septiany Arista Yufeny. Youth AIM (Aware, Involve, Model) APEC CEO Summit as The New breath of Indonesia Economy more Competitive. 2013. (This article is an original work of the author of the article published in the ABAC Youth Competition 2013) The Brunei Time. Over half of Business surveyed not aware of ASEAN Economic Community. Online ( http://www.bt.com.bn/business-national/2013/12/17/over-half-business-surveyed-not-aware-asean-economic-community ) accessed on 23 April 2014 3.20 WITA Wikipedia. Asia. 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By : Sri Septiany Arista Yufeny Background Nowadays, the development of the world more stipulate the integration intensity dan nation in...