What is the place of ASEAN as a major trade bloc in the global economic system? Is it good for the world economy and its people?

"Today, ASEAN is not only a well-functioning, indispensable reality in the region. It is a real force to be reckoned with far beyond the region. It is also a trusted partner of the United Nations in the field of development" said Kofi Annan the secretary-general of the United Nations. Currently, there are three major trading areas in the world: North America, the Pacific Rim and the European Community. These three areas account for 80 percent of …

…AIA and ASEAN's industrial cooperation programme (AICO) are both ASEAN's short-term and long-term priorities. However, this also means that ASEAN should invest more in technology, especially information technology, in human resources development when the world is passing through transition towards knowledge economy. The gap of development between countries in the world is the one of knowledge. This is the most serious challenge that ASEAN has to face because of its underdevelopment in science and technology.