ASEAN Trade Patterns and Policies

ASEAN countries are increasingly trading within the bloc, surpassing exports to China. A Chinese company in Brunei exemplifies regional trade benefits. ASEAN serves as a model for regional trade, particularly for Africa. The bloc is involved in major trade agreements like the TPP and RCEP, aiming to enhance trade and economic growth. ASEAN's future focuses on inclusivity, free and fair trade, and maintaining momentum in trade liberalization.

What has been a significant change in ASEAN's trade patterns?

• Focus on domestic markets

• Decreased trade with the United States

• Intra-ASEAN trade surpassing exports to China

• Increased trade with Europe

What industry does the Chinese company in Brunei primarily serve?

• Steel pipes for oil and gas

• Textiles

• Electronics

• Automobiles

How does the Chinese company in Brunei benefit from ASEAN's trade policies?

• By exporting only to China

• Through tariff-free trade within ASEAN

• By focusing on local markets

• By receiving government subsidies

Which international trade agreement is ASEAN a part of?

• African Continental Free Trade Area

• Trans-Pacific Partnership

• European Union

• North American Free Trade Agreement

What is the goal of the Regional Comprehensive Economic Partnership?

• To focus on domestic economic growth

• To reduce trade with the Americas

• To enhance economic ties across Asia-Pacific

• To create a trading bloc in Europe

Which countries are included in the Regional Comprehensive Economic Partnership?

• ASEAN and European countries

• ASEAN, China, Japan, South Korea, India, Australia

• Only ASEAN countries

• ASEAN and North American countries

What has driven ASEAN's growth and prosperity in the past?

• Focus on agriculture

• International trade and market access

• Isolationist policies

• Decreasing exports

What is ASEAN's trade philosophy focused on?

• Increasing tariffs

• Inclusivity, free, and fair trade

• Protectionism

• Reducing exports

What should ASEAN continue to do to maintain its trade momentum?

• Reduce international partnerships

• Eliminate trade barriers and promote liberalization

• Focus on domestic markets

• Increase trade barriers