Asia’s Economic Integration Continues
The building of a free-trade zone in Asia, proposed back in 2002, is moving forward.
Bilateral trade between China and the Association of Southeast Asian Nations (asean) has grown more quickly than expected. Trade between the 10-nation bloc and China has increased 25 percent to nearly us$60 billion in the first half of 2005.
As of July, tariff cuts between China and asean have come into force—to remove all taxes by 2010 for six of the asean nations, and for the rest by 2015.
The figures were released at a summit of economic ministers in Laos at the end of September where the ministers, in a statement, lauded the “phenomenal growth” of bilateral trade across the region. (Trade between India and asean also grew 48 percent in the first quarter of 2005.)
asean is China’s fourth-largest trading partner. In 2004, China invested $226 million in the bloc.
That’s not all. In 2002, when both sides agreed to set up a free trade area, they set a goal for their trade to reach $100 billion by 2005—a goal they met a year ahead of schedule, plus almost $6 billion more.
“Due to deepening economic and trade cooperation between the two sides, [one official] said, the pace of building the China-asean free trade zone has been accelerated” (news.xinhuanet.com, September 15).
Trade, economy and mutual political interests usually underpin any coalition of nations. Take the 25-nation EU for example: It evolved from the European Economic Community, which grew out of the European Coal and Steel Community. In other words, what starts as an economic partnership can grow into something much more.
In Asia’s case, the development of trade and economic ties between Asian nations are poised to act as a catalyst for further unification of the region. As Asian countries draw closer in trade, watch also for these nations to align politically and militarily.
Consider the influence that a politically united Asia, supported by a militarily united Asia, would have on the world. What would be the ramifications of Japan’s superior navy combining with China’s space and nuclear technology, and both being supported by tens of millions of foot soldiers from around Asia? It would create one mammoth military.
That is exactly what the Bible prophesies. For more on where current trade and economic agreements in Asia are leading, request our free booklet Russia and China in Prophecy.
