The paper "The Association of South-East Asian Nations " is an outstanding example of a macro and macroeconomics assignment. There has been controversy when it comes to comparing the two emerging technological powers; China and India. Some argue that China is more superior to India with regard to economic prosperity while others think India is more powerful. According to Dahlman (2007), despite the fact that the growing economic stature of India and China is extensively known, the factors that contribute to their success are still not well understood. What is almost clear is that there is the benefit of a large low-wage workforce, a factor that cannot solely be the foundation of an economic superpower. In the 21st century, China enjoys superior economic prosperity compared to India.
Both countries have the potential to grow but it all depends on how policies and strategies are implemented. One reason as to why China tends to be more economically prosperous than India is that India has an extremely corrupt political system. This is despite being a democracy and the people having freedom. In as much as China is also corrupt, it is also quite efficient.
India is also characterized by a crumbling urban infrastructure while China is well developed as the country realizes the importance of investing in its urban infrastructure. India is also lower in performance when factors such as malnourishment, illiteracy and gender inequality are concerned (Dahlman, 2007). Some of the policy changes in the countries that will help in having a bright future include; investing heavily in infrastructure, enhancing the education systems to reduce illiteracy levels, advocating for gender equality and empowering the citizens on various aspects.
There is also a need to take advantage of strong population growth. Some of the sectors that India and China should examine and make changes as a way of achieving overall economic prosperity include agriculture, industry, trade and foreign investment among others. 2. The Association of South-East Asian Nations (ASEAN) is often seen as having primarily an economic focus? How successful has it been in achieving economic integration for the region? ASEAN is an organ that has been crucial. It is credited among the successful regional organizations in the developing world.
It is known for maintaining regional peace as well as stability in Southeast Asia for more than 30 years. The initial goals of ASEAN were modest and mainly focused on moderating regional inter-state relations. Nonetheless, the association later expanded its remit by choosing to be involved in other aspects such as getting diplomatically involved in the Cambodian crisis that was experienced in the 1980s. The association has had its fair share of success as well as challenges. To some extent, ASEAN has been successful in achieving economic integration for the region.
It is, however, worth noting that during the initial years of operation, the association was in a position to achieve great heights of success particularly in uniting Southeast Asia compared to years later. Currently, the association is faced with various challenges that are associated with a poor human rights record, a lack of economic integration and the new US administration among others (Nesadurai, 226).
Dahlman, Carl J. "China and India: emerging technological powers." Issues in Science and Technology 23.3 (2007): 45-53.
International Monetary Fund. Recovery from the Asian Crisis and the Role of the IMF, 2000. https://www.imf.org/external/np/exr/ib/2000/062300.htm
Kojima, Kiyoshi. "The “flying geese” model of Asian economic development: origin, theoretical extensions, and regional policy implications." Journal of Asian Economics 11.4 (2000): 375-401.
Nesadurai, Helen ES. "The Association of Southeast Asian Nations (ASEAN)." New political economy 13.2 (2008): 225-239.
Stiglitz, Joseph. A better economic plan for Japan. The Guardian, 2017. https://www.theguardian.com/business/2016/sep/15/a-better-economic-plan-for-japan