ASEAN Economic Community - Case Study Example

ASEAN Economic Community Literature Review The expectations of the 2015 ASEAN economic community in the region has made the member nations to increase awareness among their people so as to prepare them to accept or rather welcome the new phase of regional economics. Thus, Thailand, as a country is preparing its younger people, especially undergraduates, in order to embrace the transformation which might come with the implementation of the 2015 AEC activities. Readiness of undergraduates can be evaluated by critically looking at their attitudes and level of knowledge. Integration of ASEAN community according to the vision of ASEAN, aims at promoting a stable, peaceful and a prosperous living environment among all the citizens from the Southern Asian countries alongside the development of dynamic partnerships in the nations which are members of ASEAN. Thus, Higher learning institutions, that is, universities and other tertiary colleges, in Thailand are deemed to be playing an equally active role in creating awareness or rather as informants of ASEAN processes. This includes the region’s efforts that are aimed at spreading awareness about the forthcoming role of AEC which is, to some extent, misunderstood by undergraduates across the nation. According to ASEAN Secretariat (2012), the Ministry of commerce, under the government has been, and it is still spearheading a number of initiatives together with the higher learning institutions so as to raise AEC’s awareness across the undergraduate’s population. Therefore, as the set date of economic regional integration draws by, the state of universities or rather the initiatives of universities in preparing undergraduates for the coming transformations have been successful. Universities are working around the clock, as information providers, to ensure that students or rather undergraduates from Thai become front liners in the new ASEAN workforce during circumstances when mutual acknowledgment of all qualifications and its state of mobility in the entire workforce become real in all the professions. In the struggle to create awareness across the Thailand nation, about regional economic integration, media has also played a key role by publishing advertisements and news in daily newspapers, magazines and airing news through local radios and televisions. Apart from university students getting AEC information through their institutions, majority of students, especially female students rely on media materials hence get enlightened of the integration’s updates. Moreover, at universities, information about this economic integration is spread or rather passed to students through Economics classes, English classes and Preparatory classes which have greater focus on development and transformations in ASEAN. Thailand, among other ASEAN member states, will be the greater beneficiary of the economic integration. Education exchanges, economic cooperation and assistance in development are considered to be key aspects of the integration with emphasis placed on education. Other factors or rather aspects that would benefit from the regional economic integration are exchange in culture, military and security cooperation, cooperation in sports and tourism and communication. Thus, exchange of education across these member states would enhance sharing of knowledge in realms of technology, science and environmental management. Due to this, Thailand government alongside higher learning institutions are preparing students or rather undergraduates in the above mentioned fields in order to feature and fully benefit from the fruits of integration. In line with ASEAN (2011), AEC has a vision of coming up with a single market that would enhance the ASEAN community. In addition, such a market would is deemed to be a relatively competitive economic area, a region which is intergraded into a global economy and a complete equitable economically developed. All these will come with a number of advantages and disadvantages and disadvantages that would have an impact on every member state of ASEAN community. At the very beginning of AEC, there would be a full evolvement of a single market in the region. This would in turn enhance free circulation of investments, goods and services together with a flexible capital flow, distribution of skilled labor, consumer protection, development of competition policies and intellectual rights to property, development of infrastructure, prioritization of taxation and e-commerce in a manner that would benefit all the member states, easy access to all the relevant economic information, spread of technology and development of the human resource skills that would raise the level of small and medium businesses. Moreover, various international economic practices will be adopted in order to maintain the standards of the region which would place it in a position to attract investors from both foreign and within. Thailand, according to Ministry of Foreign Affairs of the Kingdom of Thailand (2011), has always been among the leading nations which are at the fore front in the development of a regional economic community. As this is underway, Thailand as a nation has been focusing on a number of aspects which are going to benefit the group of young undergraduates from the local institutions (Royal Thai Government, 2012). The areas of Thailand’s focus have been connectivity in investments and trade which would eliminate tariffs, development of infrastructure to improve transportation in across the nation and attract investments and general compliance and cooperation with the ASEAN community. According to KIttisowan et al (2011), the ASEAN economic integration will give Thailand and opportunity to reduce the rate of unemployment in the nation. For years the country’s job market has been floored by foreigners. Thus, with increasingly local students and undergraduates from the local universities, Thailand views this integration as a total benefit for it will have majority of its citizen employed. As much as the nation is trying its best to create awareness among students and undergraduates who are preparing for the great economic integration, more work has to be done. The government has placed its concentration on learning institutions and media as the only means of spreading information about AEC reforms and implementations, forgetting that there are groups of citizens in the communities where such information cannot be availed through the means used (ASEAN University Network, 2012). Thus, the government should design other ways to reach people in interior communities; societal campaigns. The role of media and universities is significant in spreading the message. However, the aspect of culture erosion is considered a factor which requires special attention since economic integration will come with integration of many cultural identities in the region. A full governmental sponsored proactive intervention so as to prevent the convergence of ASEAN cultures from killing the Thai culture will be a significant approach (Komin, 1991). This move can be supported by private sectors which see the importance of maintaining or rather retaining culture of a people. Majority of western nations emphasizes full participation of citizens the civil life. Their major concern is the lack of interest of involvement in aspects such as politics by young people. This applies to some of the ASEAN member states. Most young people show no interest in politics and public life. A critical look into this, many learning institutions in Thai concentrate on development of knowledge, skills, understanding and dispositions which prepare the young individuals to comprehend the world, acquire productive jobs and be informed citizens. With enhanced civic education in Thailand, young people have a positive attitude towards politics because of the transparency in civic institutions across the nation. In addition, the notion that public office or rather positions are crucial in Thailand has developed the interest of young people towards politics (Kennedy & Fairbrother, 2004). Thus, with this interest on public affairs, many young people in Thai get informed and interested with forthcoming economic integration which is going to have a greater impact on the nation’s economy as well as the regional’s economy. With the government’s emphasis placed on science, technology, environmental management and economic development, local learning institutions are flooding in Thailand. Greater numbers are enrolling for the above mentioned courses as they are deemed to be marketable, with the forthcoming regional economic integration. Thus, in every year, Thailand produces significant number of graduates; especially undergraduates to prepare for the future current and future employment opportunities. Thailand has a relatively presentable history in economic competitiveness. Its past success in attaining or rather obtaining competitiveness fully dependent on two major factors: low costs of competition and foreign direct investments (Thailand Competitive Reports, 2012). However, as time passes by, other players, that is, foreign players are entering the arena and thus eroding the country’s competitiveness in the region. Therefore, for Thailand to get back to its initial competitive position in the regions, it is crucial for the country to continuously reinvent itself by leveraging unique or extra-ordinary strengths in order to upgrade a relatively lower labor cost-based economic system to the one that is fully based on innovations. Thus, with the regional economic integration, Thailand will be in a position to reinstate its economic position in the region due to improvements in the infrastructure and considerable government investments for further development of infrastructure which would support the nation’s current unwavering regional ranking in competitiveness. Development of roads, sea and rail transportation routes will be developed in order to strengthen the country’s quality and its participation in inviting investors from various regions of the globe. Moreover, Thailand’s economy has consistently grown despite the weaknesses that come with factors related to health, readiness for technological advancement and low quality of national institutions. Hence, the government has placed emphasis on science and technology due to the large drop in the readiness of technological transformations (Thailand Competitive Reports, 2012). Thai’s government is adopting technology that promotes productivity and revives the innovation in preparation for the 2015’s regional economic integration. The country is foreseeing a situation where investors will be interested in scientific research and development which will boost scientific development of infrastructure and improves regional competitiveness. Reference List ASEAN SECRETARIAT (2009a). ASEAN Political-Security Community. Association of Southeast Asian Nations. Retrieved from http://www.aseansec.org/18741.htm. ASEAN SECRETARIAT (2012). Dream of ASEAN as a Household Name Turning into a Reality. Association of Southeast Asian Nations. Retrieved from http://www.asean.org/ news/asean-secretariat-news/item/dream-of-asean-as-a-household-name-turning-into-a-reality ASEAN UNIVERSITY NETWORK (2012). ASEAN Update. ASEAN University Network. Retrieved from http://www.aunsec.org/site/upload/Aseanupdate2012.pdf ASSOCIATION OF SOUTHEAST ASIAN NATIONS (2011). 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