ASEAN Economy After US Election and Brexit

Research output: Contribution to conferencePaperpeer-review

Abstract

There are two major events in the world that shocking the world economy. First is British exit in June 2016. The second one is the result of Presidential US Election in November 2016. Both of these events have predicted implication of globalization trend. Both of events can divert the trend of globalization and economic integration. ASEAN economy has been in the pace of further economic integration. Booth (2016) has explained the reason behind Brexit and assessed the impact of Brexit to ASEAN not only in economic dimension but also more wide social cultural impact (immigration, employment, social interaction). Kawai (2016) has made the prediction of Trump policy agenda effect to East Asia in economic field. Trade protectionism can have negative impact on economies in East Asia and possible trade war that could highly counterproductive to the world, especially East Asia. This research would assess the impact prediction of ASEAN response to this de-globalization trend using several economic indicators analysis (correlation and regression analysis). This research finds the significance of world trade, FDI inflow, and intra ASEAN trade to ASEAN GDP. The importance of intra ASEAN trade give the optimism that even with declining world trade ASEAN could survive in maintaining the welfare and economic activities by boosting intra ASEAN trade and consistently work hard to achieve AEC Blueprint 2025.
Original languageEnglish
Publication statusPublished - 2017
Event3rd International Indonesia Forum for Asian Sttudies (IIFAS) - ID, Yogyakarta, Indonesia
Duration: 1 Jan 2017 → …

Conference

Conference3rd International Indonesia Forum for Asian Sttudies (IIFAS)
CountryIndonesia
CityYogyakarta
Period1/01/17 → …

Keywords

  • British exit, ASEAN integration, globalization, US Election

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