The 10 member countries of ASEAN have a combined population of approximately 625 million people or about 8.8% of the world’s population. If ASEAN were a single country, it would have the third largest population in the world behind India (1.31 Billion) and China (1.39 Billion).
Why would a country want to join ASEAN?
The ASEAN Declaration states that the aims and purposes of the Association are: (1) to accelerate the economic growth, social progress and cultural development in the region through joint endeavors in the spirit of equality and partnership in order to strengthen the foundation for a prosperous and peaceful community of …
Is Philippines an ASEAN country?
A founding member of ASEAN, the Philippines is a middle-income ASEAN Member State but is today considered the new tiger in Asia amid strong growth.
Why Japan is so rich?
With its phenomenal economic revival from the ashes of World War II, Japan was one of the first Asian countries to climb the value chain from cheap textiles to advanced manufacturing and services – which now account for the majority of Japan’s GDP and employment.
Which country is richer Philippines or Malaysia?
Malaysia has a GDP per capita of $29,100 as of 2017, while in Philippines, the GDP per capita is $8,400 as of 2017.
Is ASEAN powerful?
The ASEAN economies
At first glance, it might seem like a group of still-developing countries, but, as a whole, ASEAN is a powerhouse. If it were a country, ASEAN would be the world’s fifth-largest economy.
Is ASEAN important in our country?
It’s been said that if ASEAN were a single country, it would be the world’s fifth-largest economy. In 2014, the U.S. and the 10 ASEAN nations traded more than $250 billion in goods and services, representing about 8 percent of all U.S. trade and making ASEAN our nation’s fourth-largest trading partner.
What are the disadvantages of ASEAN?
ASEAN’s weaknesses. Development gaps between and within members in income, human capital, institutions, and infrastructure and the absence of regional distributive mechanisms; disparities in good governance and the rule of law; disparities in population growth and population aging, that together with disparities in …