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Alternative Centres of Power — Political Science STD 12 Humanities — Question

CBSE BoardEnglish MediumSTD 12 HumanitiesPolitical ScienceAlternative Centres of Power5 Marks
Question
Why does ASEAN still remain principally an economic association?
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Answer

ASEAN still remains principally an economic association because:
  1. ASEAN region as a whole is a much smaller economy compared to the E.U, the US and Japan.
  2. ASEAN economy is growing much faster than the E.U, the U.S and Japan.
  3. It's objective is to create a common market and production base within ASEAN states.
  4. It also wants to aid social and economic development in the region.
  5. It also likes to improve the existing ASEAN Dispute settlement Mechanism to resolve economic disputes.
  6. It has focused on creating a Free Trade Area (FTA) for investment, Labour and services.

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