What is Asean? | CNBC Explains
Short Summary:
The CNBC Explains video details the Association of Southeast Asian Nations (ASEAN), a powerful economic bloc comprising ten Southeast Asian countries. Key points include ASEAN's rapid economic growth, driven by a young, tech-savvy population and significant foreign investment from entities like the EU and China. The video highlights the challenges ASEAN faces in navigating the geopolitical rivalry between the US and China, particularly concerning the South China Sea disputes. The implications are significant, showing ASEAN's crucial role in global economics and its delicate balancing act in international relations. No specific processes or methods are detailed beyond the general economic growth and diplomatic strategies employed.
Detailed Summary:
The video begins by introducing ASEAN as a thriving economic region attracting major global powers like the US and China, contrasting its economic strength with its popular image as a tourist destination.
Section 1: ASEAN's Formation and Growth: The video explains ASEAN's origins during the Cold War, formed by five countries (Thailand, Indonesia, Philippines, Singapore, and Malaysia) to promote stability and counter communism. Post-Cold War, five more joined, bringing the total to ten. The video uses the analogy of an Indonesian gamelan orchestra to illustrate the diversity within ASEAN, highlighting the vast economic disparity between members like Indonesia (40% of regional GDP) and Cambodia (significantly lower GDP per capita). Despite this diversity, ASEAN is the world's sixth-largest economy.
Section 2: Economic Powerhouse and Foreign Investment: The video emphasizes ASEAN's rapid economic growth, reaching a five-year high of 5.2% in the year prior to the video's release. This growth attracts significant foreign investment, with the EU as the largest investor and China as the largest trading partner. Specific figures are given, showing substantial increases in EU and Chinese investment. The video also highlights ASEAN's large and young workforce, its high mobile internet usage, and the resulting interest from tech giants like Google, Facebook, and Alibaba in its burgeoning digital economy (projected to reach $200 billion by 2025).
Section 3: Geopolitical Challenges and the South China Sea: The video shifts to the geopolitical complexities facing ASEAN, focusing on the South China Sea disputes. China's claims in the South China Sea are contrasted with the competing claims of several ASEAN nations. The US's involvement, including freedom of navigation operations and the deployment of a nuclear-powered aircraft carrier, is discussed, alongside China's response. The 2012 failure to issue a joint statement due to disagreements over China's claims is mentioned, as is the evolving relationship between the Philippines and China under President Duterte. The video notes that some ASEAN countries are aligning with either the US or China, while others, like Singapore, maintain ties with both.
Section 4: Future Outlook and International Relations: The video concludes by highlighting ASEAN's increasing engagement with other global powers beyond the US and China, citing examples like India's invitation to ASEAN leaders and a joint summit with Australia. The upcoming ASEAN summit in Singapore and the planned code of conduct negotiations with China regarding the South China Sea are mentioned. The video emphasizes ASEAN's ongoing challenge of balancing economic growth with the complexities of navigating the geopolitical rivalry between the US and China. The concluding statement emphasizes ASEAN's need to carefully navigate between the two major powers. Notably, the presenter, Xin En, thanks viewers and encourages further engagement.