ASEAN between Globalization and Regionalization

The purpose of this article is to test the hypothesis that the ‘ASEAN way’ is different from other regional integration schemes, as measured by the relative importance of its de facto regionalization patterns, the importance of its ASEAN+ frameworks, and its globalization-regionalization nexus. A set of indicators using intra- and extra-regional flow data of various sorts are explored and used to compare the ASEAN integration experience with some benchmark cases worldwide. Four aspects are thereby considered: (1) globalization and economic openness, (2) trade liberalization, (3) regional production sharing, and (4) foreign investment promotion.