Contemporary Southeast Asia
Modern Southeast Asia has been characterized by high economic growth by most countries and closer regional integration. Indonesia, Malaysia, the Philippines, Singapore and Thailand have traditionally experienced high growth and are commonly recognized as the more developed countries of the region. As of late, Vietnam too had been experiencing an economic boom. However, Myanmar, Cambodia, Laos and the newly independent East Timor are still lagging economically.
On August 8, 1967, the Association of Southeast Asian Nations (ASEAN) was founded by Thailand, Indonesia, Malaysia, Singapore, and the Philippines. Since Cambodian admission into the union in 1999, East Timor is the only Southeast Asian country that is not part of ASEAN, although plans are under way for eventual membership. The association aims to enhance cooperation among Southeast Asian community. ASEAN Free Trade Area has been established to encourage greater trade among ASEAN members. ASEAN has also been a front runner in greater integration of Asia-Pacific region through East Asia Summits.
Read more about this topic: History Of Southeast Asia
Famous quotes containing the words contemporary and/or asia:
“The shift from the perception of the child as innocent to the perception of the child as competent has greatly increased the demands on contemporary children for maturity, for participating in competitive sports, for early academic achievement, and for protecting themselves against adults who might do them harm. While children might be able to cope with any one of those demands taken singly, taken together they often exceed children’s adaptive capacity.”
—David Elkind (20th century)
“I have no doubt that they lived pretty much the same sort of life in the Homeric age, for men have always thought more of eating than of fighting; then, as now, their minds ran chiefly on the “hot bread and sweet cakes;” and the fur and lumber trade is an old story to Asia and Europe.”
—Henry David Thoreau (1817–1862)