International organizations like the UN, the EU and ASEAN are vital forces in today’s
world, helping ease tension between nations and aiding global development. However, it’s
not always true that the closer different countries are bound together in such organizations,
the better it will be for everyone. Specifically, it is not a good idea at present for ASEAN to
emulate the EU by creating a common currency like the euro. First, look at the current
crisis within the EU over the euro—having very strong economies like Germany’s tied to weak
economies like Greece’s or Eastern Europe’s can be a recipe for disaster. In the worst-case
scenario, the EU itself may soon break up over the currency problem. Turning to the situation in
ASEAN, a rational observer will see few grounds for optimism here, either. Recently there has been
conflict within ASEAN over the issue of the South China Sea, where countries wishing to
oppose Chinese hegemony like Vietnam and the Philippines came into open conflict with
others supporting China, such as Cambodia. When ASEAN members disagree over such policy
issues, it is very difficult to imagine that they could work together effectively to manage a common
currency. How could a country as rich as Singapore find common ground with places like Laos or
Myanmar economically? In short, I believe the idea of “a euro for ASEAN” is premature. While the
future is hard to foresee, at the current time all we can hope for is closer economic integration,
with the more developed ASEAN members working hand in hand with poorer ones, but without
the restricting monetary bonds of an “Asian euro.”
A. Position statement: Specifically, it is not a good idea at present for ASEAN to emulate the
EU by creating a common currency like the euro.
B. Supporting points:
1. EU is now in crisis over its currency.
2. ASEAN is not ready for a common currency.
C. Concluding statement: In short, I believe the idea of “a euro for ASEAN”
International organizations like the UN, the EU and ASEAN are vital forces in today’sworld, helping ease tension between nations and aiding global development. However, it’snot always true that the closer different countries are bound together in such organizations,the better it will be for everyone. Specifically, it is not a good idea at present for ASEAN toemulate the EU by creating a common currency like the euro. First, look at the currentcrisis within the EU over the euro—having very strong economies like Germany’s tied to weakeconomies like Greece’s or Eastern Europe’s can be a recipe for disaster. In the worst-casescenario, the EU itself may soon break up over the currency problem. Turning to the situation inASEAN, a rational observer will see few grounds for optimism here, either. Recently there has beenconflict within ASEAN over the issue of the South China Sea, where countries wishing tooppose Chinese hegemony like Vietnam and the Philippines came into open conflict withothers supporting China, such as Cambodia. When ASEAN members disagree over such policyissues, it is very difficult to imagine that they could work together effectively to manage a commoncurrency. How could a country as rich as Singapore find common ground with places like Laos orMyanmar economically? In short, I believe the idea of “a euro for ASEAN” is premature. While thefuture is hard to foresee, at the current time all we can hope for is closer economic integration,with the more developed ASEAN members working hand in hand with poorer ones, but without
the restricting monetary bonds of an “Asian euro.”
A. Position statement: Specifically, it is not a good idea at present for ASEAN to emulate the
EU by creating a common currency like the euro.
B. Supporting points:
1. EU is now in crisis over its currency.
2. ASEAN is not ready for a common currency.
C. Concluding statement: In short, I believe the idea of “a euro for ASEAN”
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