ABSTRACT
This chapter explains the patterns of economic development of the Association of Southeast Asian Nations (ASEAN) countries by focusing on a few key economic variables. It examines principal sectoral compositions and changes, direct investment flows, and trade. The chapter compares these key variables with three major economic blocs–the European Economic Community (EEC), USA, and Japan–by examining the areas in which inter-regional relationships have affected ASEAN. It deals with a discussion of trends and implications for the 1980s and provides an overview of the major non-economic variables that affect economic development in ASEAN. Since one of ASEAN’s goals is to reduce its excessive dependence upon advanced countries, greater intra-regional trade is the most effective strategy to follow. Virtually all of the countries in ASEAN are undergoing some form of transition of power or social and economic restructuring.
