The ‘ASEAN Way’ and ASEAN’s Development Gap with Cambodia, Laos, Myanmar and Vietnam: A Critical View

Author(s): 
Publication Date: 
18 September 2019
Publisher: 
Taylor and Francis Online
Publication Language: 
EN
Appearing in: 
Asia Pacific Business Review
DOI: 
https://doi.org/10.1080/13602381.2019.1652980
Abstract: 

The ‘ASEAN Way’, as an approach to interstate relations within ASEAN, is analysed in relation to the ‘reduction of the development gap’ (RDG) with Cambodia, Laos, Myanmar and Vietnam (CLMV). It is found that convergence of income per capita and development levels of CLMV is only to a limited extend the result of RDG and its pace is too slow. With the help of the Asian Development Bank and other regional and multilateral financial institutions, the development cooperation funds thus assembled, could leverage a multitude of loans and funds from donor organizations and countries, including the EU and its member countries.

Keywords: 
ASEAN Way, Cambodia, development gap, Laos, Myanmar, regional policy, Vietnam