Regional Economy
Introduction
The Association of South East Asian Nations (ASEAN) was established in August of 1967. The first five nations to form ASEAN were Indonesia, Malaysia, Philippines, Singapore and Thailand. ASEAN has since been joined by Brunei, Vietnam, Lao, Myanmar and Cambodia. (ASEAN)
The main goals for the formation of ASEAN were to accelerate the economic growth, social progress and cultural development in the South East Asian Region. Further goals for ASEAN were to promote peace and stability in the region. (ASEAN)
The ASEAN Region contains over 500 million people with over 4.5 million square kilometers and a combined gross domestic product (GDP) of almost 700 billion dollars. ASEAN countries export everything from rice and oil to electronic consumer goods. (ASEAN)
Cities
The region contains several large cities such as Bangkok in Thailand, Kula Lumpur in Malaysia and Singapore. Bangkok, located in Thailand, is often referred to as the “gateway to Asia” and is often used by foreign companies looking to develop markets in Asia. It is at the economic center of Thailand and accounts for almost half of Thailand’s GDP. Because of its large representation of foreign companies it has been the backbone of ASEAN and primary location of Asian business interests. (BANGKOK)
Kula Lumpur, the capital of Malaysia, is the fastest growing region in Malaysia in terms of both population and economics. Including surrounding areas Kula Lumpur supports a population of over 7 million people and is the economic and business center of Malaysia. The city is a major center for finance, insurance and real estate. (Kula Lumpur)
Singapore is a large city-state and the smallest nation in South East Asia. Singapore is the 17th wealthiest nation in the world in terms of a per capita GDP of $29,474. It has a large foreign reserve of over 147 billion dollars. It has the busiest port in the world in terms of tonnage shipped and is the fourth...
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