ASEAN not ready for combat

ASEAN not ready for combat

From Merdeka

ASEAN was established 30 years ago with the economy, rather
than security, as its keystone.

Therefore, ASEAN should be more ready to act when member
countries are facing economic disasters such as a decline in
value of the currency. It should also be warding off the negative
impact of speculators.

Perhaps ASEAN's preoccupation with political matters has left
it out of touch with economic matters, leaving the region
vulnerable to economic upheaval.

When there was a sudden attack by foreign currency
speculators, ASEAN leaders panicked and their reaction was slow.
While they were investigating political motives or seeking out
the culprits, rates of exchange in the region dropped sharply.
This reduces or even eliminates ASEAN's achievements so far.

It is perhaps time to review whether ASEAN is adhering to its
main objectives of economic stability and welfare for its member
countries.

In order to stabilize the economy of the region it is
necessary to understand the upheavals and shortcomings in the
economy. To know exactly who your friends and foes are is
important too. So, if there is a sudden attack, we will find
ASEAN ready to fight.

H. IFRADI SUKANTO

Jakarta