The Association of Southeast Asian Nations (ASEAN) concluded its three-day summit on Oct. 28 in Malaysia’s capital, Kuala Lumpur, with a further developed plan. ASEAN had been formed in 1967, in Bangkok, and today comprises the nations of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam, and its newest member, East Timor.
From 2012 to 2024, ASEAN’s total trade rose from $2.47 trillion to an estimated $3.5 trillion, nearly 50% more.
China is ASEAN’s largest trading partner, and most importantly, China has built or assisted in building a large amount of the ASEAN region’s infrastructure, including high-speed rail and dams. On Oct. 27, Chinese Premier Li Qiang addressed the summit, stating, “Over the past year, ASEAN Plus Three [ASEAN plus China, Japan and South Korea] cooperation has kept a sound momentum on the whole, demonstrating the resilience and vibrancy of the East Asian economy. Meanwhile, given the complex changes in international economic and trade structure, especially the disruptions from high tariffs, we have a deep feeling that East Asia is faced with mounting difficulties and challenges in its economy and growing instability and uncertainty in its development.”
He asserted, “Looking ahead, the center of gravity of the world economy is shifting toward Asia, and the epicenter of the Asian economy is in East Asia. The East Asian miracles are not behind us, but ahead of us as an unfolding reality. China stands ready to work with all parties to seek greater synergy of development strategies, uphold openness and cooperation, take more concrete actions, and jointly renew the glory of East Asia’s development.
