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ASEAN

The Association of Southeast Asian Nations (ASEAN) was established on August 8, 1967 in Bangkok by five nations: Indonesia, Malaysia, the Philippines, Singapore, and Thailand. Brunei Darussalam joined in 1984, Vietnam in 1995, Laos and Myanmar in 1997, and Cambodia in 1999. The population of ASEAN is about 500 million, and it has a combined GDP of almost $750 billion.

The growing power of the Southeastern Asian economies has inspired an unlikely idea—a common currency for the entire region. The Economist once asked ASEAN's chairman when a common currency might actually come about. He turned and pointed to the youngest person in the room. “Perhaps in her lifetime,” he answered.


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