It’s fair to say there exists a level of social and economic inequality within ASEAN. Following the 1997 Asian currency crisis that exposed ASEAN’s vulnerability to cross-border capital flows, the region has undergone a significant transformation from a bloc of mostly underdeveloped and developing countries to one with the world’s most dynamic economies collectively.
I have always believed in the strength of ASEAN; we have the potential to become an economic powerhouse rivalling the biggest economies in the world. A significant step towards this could be the implementation of a common currency.
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