Countdown to the ASEAN Economic Community
With the launch of the ASEAN Economic Community on Dec. 31, the Association of Southeast Asian Nations will be more tightly integrated than ever. Unlike the European Union, the AEC is not a customs union and does not grant free movement of people. With no supranational governing structure, the AEC may never be as cohesive as the EU. However, many small steps have created the stage for greater cooperation that could still beget greater prosperity.