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The Association of Southeast Asian Nations (ASEAN) has experienced rapid economic growth for many years. Although the population of ASEAN is larger than the EU-28, the emerging ASEAN market, called the ASEAN Economic Community (AEC), is still little understood by policy makers in many parts of the world, by business professionals and students, as well as by scholars in economics, business, politics and economic law. This book provides, for the first time, a rigorous analytical approach of the new AEC and its intricacies. It sets out its ambition, scrutinises its economic integration logic and detects its deficits. Besides a detailed analysis of the AEC Roadmap, the book also elaborates on its achievements. Several strategic economic options for the AEC, in particular as an instrument to accelerate the economic development of the region, are explored

One: Market Integration From Below -- 1 Some efficiency effects of customs union -- 2 Customs union and economies of scale -- 3 Customs union, market structure and firm size -- 4 Customs union and intra-industry trade -- 5 Customs union and international production -- Two: Market Integration from Above -- 6 The Community's internal market -- 7 The Competition Regime -- 8 The Common Commercial Policy -- 9 Community Policies for industry.