Draft:ASEAN-5

ASEAN-5
The Four Asian Tigers, from north to south: South Korea, Taiwan, Hong Kong and Singapore
Chinese name
Traditional Chinese	亞洲四小龍
Simplified Chinese	亚洲四小龙
Literal meaning	Asia's Four Little Dragons
Transcriptions Standard Mandarin Hanyu Pinyin Yàzhōu sì xiǎo lóng Bopomofo ㄧㄚˋ ㄓㄡ ㄙˋ ㄒㄧㄠˇ ㄌㄨㄥˊ Wade–Giles Ya^4-chou^1 szu^4 hsiao^3 lung^2 Tongyong Pinyin Yàjhōu sìh siǎo lóng Yale Romanization Yàzhōu sz̀ syǎu lúng IPA [jâ.ʈʂóʊ sɹ̩̂ ɕjàʊ lʊ̌ŋ] Yue: Cantonese Yale Romanization aa jāu sei síu lùhng Jyutping aa3 zau1 sei3 siu2 lung4 IPA [a˧ tsɐw˥ sej˧ siw˧˥ lʊŋ˩] Southern Min Hokkien POJ A-chiu sì sió lêng
Korean name
Hangul	아시아의 네 마리 용
Hanja	아시아의 네 마리 龍
Literal meaning	Asia's four dragons
Transcriptions Revised Romanization Asiaui ne mari yong McCune–Reischauer Asiaŭi ne mari yong
Malay name
Malay	Empat Harimau Asia
Tamil name
Tamil	நான்கு ஆசியப் புலிகள்

The ASEAN-5 (also called the ASEAN Five or the ASEAN Big Five Economies) are the five original member states of the Association of Southeast Asian Nations (ASEAN): Indonesia, Malaysia, the Philippines, Singapore, and Thailand. In the decades after ASEAN’s establishment in 1967, these economies experienced rapid growth, structural transformation, and increasing integration into global and regional trade, and moved from largely low or lower-middle income status in the late 1960s to a group of mainly middle and high income economies by the early twenty-first century.^[1][2][3]

By the early 2000s, the ASEAN-5 had emerged as the economic core of ASEAN, accounting for the bulk of the region’s population, output and trade, and becoming key production bases within East Asian and global value chains. Singapore developed into a high income international financial and services centre, Malaysia and Thailand became upper-middle income manufacturing and export hubs, while Indonesia and the Philippines combined large domestic markets with expanding manufacturing and services sectors.^[4][5][6]

International organisations and scholars frequently use the ASEAN-5 as an analytical grouping in studies of regional integration, trade and financial liberalisation, productivity convergence and macroeconomic shocks, and often treat them as pioneers or “pioneering ASEAN five” in the development of the ASEAN Free Trade Area and the ASEAN Economic Community.^[6][7][8][2] The regional counterpart of the ASEAN-5 is the CLMV countries.

Overview

Beginnings

1980s

Thai Prime Minister, General Prem Tinsulanonda

Indonesian President, Suharto

Singaporean Prime Minister, Lee Kuan Yew

Philippine President, Ferdinand Marcos

Malaysian Prime Minister, Mahathir Mohamad

At the height of the Tiger and Tiger Cub economic boom in the 1980s, ASEAN was led by staunch authoritarian technocrats.

Kuala Lumpur skyline in the 1980s

See also

• CLMV countries - Collection of countries within southeast asia that holds the region's lowest economic output.

References

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