CPD Event: ASEAN Matters for Southern California
On October 7, 2014, CPD hosted a panel discussion on the local impact of the Association of Southeast Asian Nations (ASEAN) with the current U.S. Ambassadors to Cambodia, Indonesia, Malaysia, and Singapore and President and CEO of the US-ASEAN Business Council.
In this video of the full event, the group discusses the ten member states of ASEAN and how these countries have experienced a tremendous amount of economic growth in recent years. Cheaper manufacturing costs, strengthened infrastructures, and innovations in science and technology have attracted billions in foreign direct investment. With rising levels of disposable income for the region’s expanding middle class, it is no surprise that ASEAN economies are expected to grow 4.3% in 2015. This prosperity bodes particularly well for California, where exports to ASEAN nations contributed more than $14.6 billion to the state’s economy in 2012. ASEAN is California’s fifth largest export market following Mexico, Canada, China, and Japan, ahead of South Korea and Germany.
This in-depth discussion of why ASEAN is critical to Southern California’s continued economic growth was co-sponsored by the Pacific Council on International Policy.