East Asia Economic Caucus
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The East Asia Economic Caucus is a regional free trade zone (FTA) proposed in 1990 by former Malaysian Prime Minister Dr. Mahathir bin Mohamad and encompasses the Association of Southeast Asian Nations (ASEAN) member states, China, South Korea and Japan. Japan though refused participation out of its loyalty to the US.
The EAEC was a reaction to ASEAN's integration into the Asia-Pacific Economic Cooperation (APEC) by Dr.Mahathir, who is known for his strong Asian standpoint (i.e. 'Look East policy') His suggestion supposedly articulates his dissatisfaction with ASEAN joining APEC, which includes Western nations. Therefore EAEC is basically an APEC without North America and Australia. Nevertheless, it was never put into action officially. Recently the ASEAN+3 rounds might be called the successor of EAEC, which prompts Malaysia to state that EAEC was a reality.
[edit] Countries intended to be involved
The countries was supposed to compose the East Asia Economic Caucus were:
- the then six members of
ASEAN
- plus
[edit] Sources
- N Ganesan: Bi-Lateral Tensions in Post-Cold War ASEAN, Singapore: Institute of Southeast Asian Studies, 1999.
[edit] External links
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