An investigation into the Readiness of undergraduate Thai people towards the incoming ASEAN Economic Community in 2015 – Literature review Example

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Thailand, among other ASEAN member states, will be the greater beneficiary of the economic integration. Education exchanges, economic cooperation and assistance in development are considered to be key aspects of the integration with emphasis placed on education. Other factors or rather aspects that would benefit from the regional economic integration are exchange in culture, military and security cooperation, cooperation in sports and tourism and communication. Thus, exchange of education across these member states would enhance sharing of knowledge in realms of technology, science and environmental management. Due to this, Thailand government alongside higher learning institutions are preparing students or rather undergraduates in the above mentioned fields in order to feature and fully benefit from the fruits of integration. In line with ASEAN (2011), AEC has a vision of coming up with a single market that would enhance the ASEAN community.

In addition, such a market would is deemed to be a relatively competitive economic area, a region which is intergraded into a global economy and a complete equitable economically developed. All these will come with a number of advantages and disadvantages and disadvantages that would have an impact on every member state of ASEAN community.

At the very beginning of AEC, there would be a full evolvement of a single market in the region. This would in turn enhance free circulation of investments, goods and services together with a flexible capital flow, distribution of skilled labor, consumer protection, development of competition policies and intellectual rights to property, development of infrastructure, prioritization of taxation and e-commerce in a manner that would benefit all the member states, easy access to all the relevant economic information, spread of technology and development of the human resource skills that would raise the level of small and medium businesses.

Moreover, various international economic practices will be adopted in order to maintain the standards of the region which would place it in a position to attract investors from both foreign and within. Thailand, according to Ministry of Foreign Affairs of the Kingdom of Thailand (2011), has always been among the leading nations which are at the fore front in the development of a regional economic community. As this is underway, Thailand as a nation has been focusing on a number of aspects which are going to benefit the group of young undergraduates from the local institutions (Royal Thai Government, 2012).

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