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Bangkok Post
Bangkok Post
Business

The case for a common Asean currency

It's fair to say there exists a level of social and economic inequality within Asean.

Following the 1997 Asian financial crisis that exposed Asean's vulnerability to cross-border capital flows, the region has undergone a significant transformation, from a bloc of mostly underdeveloped and developing countries to one with the world's most dynamic economies collectively.

However, rapid development has led to rising income disparity and high levels of inequality, which undermine the fight against poverty, slow down economic growth and threaten social cohesion.

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