3 results
Introduction
-
- By Daljit Singh, Southeast Asian Affairs, Lorraine C. Salazar, Southeast Asian Affairs
-
- Book:
- Southeast Asian Affairs 2007
- Published by:
- ISEAS–Yusof Ishak Institute
- Published online:
- 21 October 2015
- Print publication:
- 28 May 2007, pp ix-xxii
-
- Chapter
- Export citation
-
Summary
This introduction to Southeast Asian Affairs 2007 seeks to draw out the major themes and issues that are woven into the narratives of the four regional, eleven country, and five thematic articles, as well as provides a preview of the articles in this volume.
Southeast Asian economies demonstrated vibrant growth in 2006 and a much better capacity to deal with internal and external shocks. All countries were keenly aware of the need to attract investments and to reform regulatory and policy impediments. The region's economic prospects were buoyed by the fast-growing Chinese and Indian economies and the revival of the Japanese economy. Vietnam stood out as having the highest growth rate among the major countries in Southeast Asia. Its admission into the World Trade Organization (WTO) held out promise of even better economic prospects ahead, though much work still needs to be done to make the country more business friendly. The city state of Singapore, with its mature domestic economy, was reinventing itself as a services hub. Indonesia, the largest country in the region, needed to carry out more reform to be able to attract the investments needed for a higher growth rate, but overall it was moving in the right direction. There were signs that Malaysia too was seeking to ease some of the controls and regulations that have discouraged foreign investment. Myanmar was likely see greater revenues from oil and gas in the future, making Western sanctions even more irrelevant.
There was little danger of inter-state conflict within the region. Relations between the major powers were reasonably amicable, with some improvement towards the end of the year in the difficult China-Japan relationship, while potential flashpoints like Korea and Taiwan remained fairly well managed, at least for the time being. International terrorism remained a threat but within Southeast Asia progress was being made in neutralizing terrorist elements in Indonesia and southern Philippines, though terrorism remains a long-term problem needing much more than military and security means to overcome it.
Introduction
-
- By Daljit Singh, Southeast Asian Affairs, Lorraine C. Salazar, Southeast Asian Affairs
-
- Book:
- Southeast Asian Affairs 2006
- Published by:
- ISEAS–Yusof Ishak Institute
- Published online:
- 21 October 2015
- Print publication:
- 31 May 2006, pp ix-xvi
-
- Chapter
- Export citation
-
Summary
At the end of 2005 Southeast Asia looked in a better condition than at any other time since the 1997 Asian crisis. The economies had recovered and there was steady growth as countries continued to pursue economic reform. The world economy was resilient in 2005, notwithstanding a modest cyclical slowdown during the year. Moreover, Southeast Asia's economic prospects were buoyed by the growing linkages with the rising economies of China and India and a recovering Japanese economy. Apart from a few cases, regime stability characterized the political landscape of the region.
There were two other positive factors: Indonesia and the Association of Southeast Asian Nations (ASEAN). As the largest country of Southeast Asia located in a huge maritime swathe between the Philippines on the east, Australia in the south, and the Bay of Bengal in the northwest, Indonesia's stability or lack of it, has had an important bearing on perceptions of Southeast Asia. Under the administration of President Susilo Bambang Yudhoyono, the country was back on the right track, working to achieve domestic stability, improve governance, build institutions, and attract investments.
Meanwhile, ASEAN was regaining some of the importance it used to enjoy a decade earlier. It was again in the centre of moves to shape a new Asian regional architecture as it organized the first East Asian Summit that included not only the 13 members of the ASEAN+3 process but also India, Australia, and New Zealand. It was being courted by the major powers as each tried to maintain or extend its influence.
ASEAN's complexion also seemed to be undergoing subtle changes as a result of the democratization of Indonesia and the growing realization that the principle of non-intervention needed to be used flexibly to enable cooperation on transnational challenges. The decision to draw up an ASEAN Charter raised hopes of a more rules-based organization with a better sense of common values.
Yet, despite the more promising outlook for Southeast Asia, many challenges remained.
The Philippines: Crisis, Controversies, and Economic Resilience
- from The Philippines
-
- By Lorraine C. Salazar, University of the Philippines
-
- Book:
- Southeast Asian Affairs 2006
- Published by:
- ISEAS–Yusof Ishak Institute
- Published online:
- 21 October 2015
- Print publication:
- 31 May 2006, pp 227-246
-
- Chapter
- Export citation
-
Summary
For a country known for both its strong commitment to democracy and its weak political institutions, the year 2005 was full of intrigues and challenges for the Philippines. In July the Arroyo administration almost collapsed amidst rumours of coups, political controversies, and another People Power movement, sidelining efforts towards economic reform. Yet, despite this crisis and the ensuing policy setbacks, the economy displayed unexpected resilience.
The analysis of the events of 2005 will be divided into three sections. The first deals with the country's main political events, the second with the state of the economy. The final section concludes by reflecting on the country's economic and political prospects in the short term.
Political Developments
Crisis and controversies
The year 2005 saw the Filipino President almost toppled by street protests — yet again. Despite being impeached and facing considerable public opprobrium, the Arroyo administration narrowly survived. However, at the end of the year, the controversies surrounding the President's mandate were far from settled. These issues threaten to resurface in 2006 as her administration endeavours to push for changes in the Constitution as a way of solving the gridlock that besets the Philippine political system.
Mrs Arroyo won the 2004 elections by a margin of about 1 million votes over her closest rival, actor Fernando Poe. This entailed a six-year term for Arroyo, who rose to the presidency in January 2001. The new presidential term evoked promise, as questions of Arroyo's mandate and legitimacy seemed to be resolved by her electoral victory. Yet, the optimism was short-lived as economists from the University of the Philippines warned of an impending fiscal crisis. In her July 2004 State of the Nation Address (SONA), President Arroyo declared that the country's “most urgent problem” was solving the government's worsening fiscal and debt condition. Eight new revenue measures were announced as a legislative priority but Congress took its time legislating them. Because of this, credit rating agencies downgraded their ratings of the Philippines.