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2 results

  • Chapter 6 - Conclusion: Economic Regionalism and ASEAN Investment

  • Sungjoon Cho, Chicago-Kent College of Law, Jürgen Kurtz, European University Institute, Florence
  • Book:
    Investing the ASEAN Way
    Published online:
    10 November 2022
    Print publication:
    24 November 2022, pp 216-252

  • Summary

    Economic regionalism in ASEAN features a dynamic legal interaction of centripetal force (represented by global economic norms) and its centrifugal counterpart (defined by ASEAN’s unique historical and cultural traits). The main goal of this book is not to present and defend a narrowly articulated thesis that focuses on a single doctrinal or conceptual point or development within ASEAN. This book instead paints a broader canvass of evolution in law-making by uncovering unique patterns of innovation in legal tailoring while identifying also a central paradox – the wide gap in the degree of openness and commitments between intra-ASEAN vis-à-vis extra-ASEAN sources of investment. This final chapter provides a summary and recount of the main observations and arguments in previous chapters from the standpoint of regionalist dynamics in ASEAN investment regulation. It also offers several policy proposals to harness the potential of the AIR and achieve the mega goal of “ASEAN Centrality.”

Investing the ASEAN Way
  • Theories and Practices of Economic Integration in Southeast Asia
  • Sungjoon Cho, Jürgen Kurtz
  • Published online:
    10 November 2022
    Print publication:
    24 November 2022
  • In recent decades, South East Asia has become one of the world's most popular destinations for foreign investment. The member states of the Association of Southeast Asian Nations (ASEAN) have employed varying modalities to pursue first security and then economic cooperation. This book explores regional law and governance in ASEAN through the lens of its regulation of foreign investment. It adopts a new framework to identify the unique ontological autonomy of the ASEAN Investment Regime beyond a simple aggregation of its individual member states. It deploys a sociology-led approach (especially constructivism) and emphasizes ideational factors (such as culture and norms) that guide state actions from within. The book explores the manner in which ASEAN's history and culture have fundamentally shaped its foreign investment policies, leading to outcomes that often depart fundamentally from the external structure and script of Global Investment Law.