One of southeast Asia’s top finance officials says that the region must continue to harmonize if it is to stave off the threat of growing competition from China and other north Asian economies.
Raymond Lim, Singapore’s second finance minister, tells Euromoney that the Association of South-East Asian Nations “can’t survive as individual entities” and that “integration is not a matter of choice but a necessity” for the 10 countries that make up the trade bloc.
Lim’s comments come as Asean’s finance ministers launched two new equity markets indices at the end of September in a step towards greater integration.
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