This newly published article by Anikó Magasházi (senior researcher of iASK) was released in Foreign Policy Review 2020.
Abstract: The paper departs from the analysis of the regionalizing processes, as Björn Hettne coined the spontaneous empirical trend driven by transnational corporations. They evolved within Southeast-Asia from the end of the 1980s, despite a very low level of intergovernmental institutionalization within ASEAN. The activity of global and regional value chains increasingly webbing the ASEAN region is traced back to trade and investment relations and their change over time in 1995-2018. Regionalizing processes have been followed from the mid-nineties by intergovernmental negotiations on membership expansion and moving towards a single market and production base, facilitating the “bottom-up” dynamics from the “top-down” level. Impacts of the US-China Trade War and Covid-19 pandemic are analyzed to draw future prospects.
Keywords: East-Asian regionalization, ASEAN+3, AEC 2015, global value chain disruptions
