Link to article: https://english.news.cn/20221113/01feebad8dc5496e9e0e77a73b4cbf3c/c.html
On November 13th there was an ASEAN summit which included leaders from China, Japan, South Korea, and Cambodia which was held in Phnom Penh, Cambodia. Chinese Premier Li Keqiang said that the ASEAN alliance should be committed to safeguarding peace and stability in order to achieve prosperity. This summit is a major turning point in global growth because these nations are finally meeting to discuss important trade and economic deals aiming to grow the countries within the alliance. Li Keqiang also said that the ASEAN countries should promote the Regional Comprehensive Economic Partnership (RCEP) and release the maximum dividends of the free trade agreement.
By cooperating together the ASEAN alliance also aims to maintain stability of industrial and supply chains and increase job opportunities. There has also been talks of sustainable development and creating more sustainable energy and promote low carbon use. These agreements of the ASEAN could greatly impact the future of East Asia in many different ways and make the quality of life better. This is great news for East Asia in order to improve these countries and solve collective goods issues together. These countries are significantly growing economically and taking back the power they have lost in the past.
The ASEAN alliance is growing power and may be the start of a multi-polar system, where they are now in the contenders of the most powerful countries in the world. For a long time now it has been the goal of the East to strengthen their economies so that they could face the West. This is now a real possibility and together these countries can cooperate together and solve their collective goods issues. This may be bad news for the U.S because they may no longer be able to police the world and have their way all the time. It may increase fear in the west and now they might even become vulnerable to the relentless east.