Alternative Centres of Power
European Union is a political and economic union of 28 member states (Europe). It has developed a single market through a standardised system of laws which apply in all member states. Two members of EU (UK and France) hold permanent seats of UN Security Council. EU is the world’s biggest economy with a GDP slightly larger than that of the United States. Militarily, its armed forces are second largest in the world.
ASEAN was established on 8 August 1967 in Bangkok. It aims to accelerate economic growth, social progress and cultural development and to promote regional peace and stability. The ASEAN security community shall aim to ensure that countries in the region live at peace with one another and with the world in a just, democratic and harmonious environment. ASEAN established the ASEAN Regional Forum (ARF) in 1994. The ARF carries out coordination of security and foreign policy. ASEAN Economic Community’s goal is to create a stable, prosperous and highly competitive ASEAN economic region in which there is a free flow of goods, services, and investment. The ASEAN Socio-Cultural Community, in consonance with the goal set by ASEAN Vision 2020, defined outward looking role for ASEAN in the international community.
Rise of Chinese Economy started with the introduction of Soviet model under Mao’s leadership. In 1978, Deng Xiapoing announced Open door Policy and economic reforms. Privatization of agriculture and industry took place in 1982 and 1998 respectively. India-China relations get a setback during the war of 1962. Chinese have taken over Indian land at Aksai Chin region of Ladakh. Bilateral trade between India and china has increased after 1999.
Special Economic Zone is designated areas in countries that possess special economic regulations that are different from other areas in the same country. Great Leap Forward (1957–60) was a Chinese economic plan aimed at revitalizing all sectors of the economy. India's Look East policy represents its efforts to cultivate extensive economic and strategic relations with the nations of Southeast Asia. It was launched in 1992, by the then Prime Minister Narasimha Rao. Marshall Plan is a United States program of economic aid for the reconstruction of Europe (1948-52); named after George. C. Marshall.