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The 10-member Association of Southeast Asian Nations (ASEAN) wants an economy that will "lead the world" by 2015. To these ends, the group has commissioned a study on the feasibility of wrapping some of the world's most populated nations into a "freed trade zone" bloc not dissimilar to the European Union, according to published reports.
The Asian leaders, who are meeting in Thailand, said the association would tie together the ASEAN nations and regional partners...
However, the BBC noted that a proposal to include the United States in such an economic community was a point of contention at the ASEAN meeting.
"Some Congressional leaders are reportedly urging the Obama Administration to pursue a free-trade agreement with ASEAN, but this is likely to prove contentious," economic blogger Marc Chandler added. U.S. leaders plan to appoint an ambassador to the ASEAN and stage a summit with leaders in November, he also noted.
BEIJING, October 14 (RIA Novosti) – Russia is ready to consider using the Russian and Chinese national currencies instead of the dollar in bilateral oil and gas dealings, Prime Minister Vladimir Putin said on Wednesday.
The premier, currently on a visit to Beijing, said a final decision on the issue can only be made after a thorough expert analysis.
“Yesterday, energy companies, in particular Gazprom, raised the question of using the national currency. We are ready to examine the possibility of selling energy resources for rubles, but our Chinese partners need rubles for that. We are also ready to sell for yuans,” Putin said.
Originally posted by silent thunder
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I think a "Pan-Asian," EU-like superstate is certainly a strong possibility at some point, but not as soon as 2015. Too many regional political and economic conflicts of interest to be ironed out.
Originally posted by princeofpeace
Yeah. How is Russia includced in this? LOL some people. Im not sdaying they wont have ties, but them being considered "Asian"? Good grief people.
We are type 0
HUA HIN,Thailand, Oct. 25 (Xinhua) -- As part of a series of summit-level meeting related to the 15th ASEAN (Association of Southeast Asian Nations) summit, the fourth East Asia Summit (EAS)was held here on Oct. 25, where leaders of the ASEAN member countries met with their counterparts from China, Japan, Republic of Korea, India, Japan, Australia and New Zealand.
Originally posted by princeofpeace
Yeah. How is Russia includced in this? LOL some people. Im not sdaying they wont have ties, but them being considered "Asian"? Good grief people.
Any EU-style community was "not realistic" in the short term, he said. "There would be tremendous challenges you would have to confront - not the least of them being some of the currencies are simply not convertible."
Currency union was normally the last step for any community of countries, Key said. "There's a lot of progress to be made on regulation, trade access, before you move into currency union."
But he said it was clear there was a general recognition that the region was becoming a very powerful part of the world. "Greater co-operation and co- ordination is in the best interests of the region. What the final structure of that looks like is up for debate. But there is no question there is a growing appetite for a broader consensus."