What if ASEAN Had One Currency?

What would happen to the global economy if 10 countries from Southeast Asia (ASEAN) decided to create their own currency? Could they create the third reserve currency of the world, or will they face the same problems the EU has had with the Euro?

#ASEAN #Economics #Geopolitics

[easternrazor]

That is a horrible idea. One currency is a failure and EU has proven to be a failure.
ASEAN should remain a trade alliance. It should never be a Block nor should it have an unelected parliament like EU.
EU is a bunch of unelected that holds no responsibility to the people of EU and the population cannot remove her!!
Worst, she reports to Washington.

[chrislivesinreality]

Philippines would NOT be included - it is a usa colony, and a violation of the ASEAN charter.

[rrajan]

Bro, even the 2 nations: Singapore and Malaysia wont have a single currency

[Hystericall]

After how things turned out in the EU and Euro, I would say that's a really stupid idea.

[sabilj]

This is not a good idea especially when the intention is to follow the EU monetary system and to use the US's $. The best solution is to peg the currency of ASEAN based on the price of gold or to use gold as a monetary system. For a start to be independent of the imbalanced of monetary system is to abandon the use of the US's $.

[phoenix]

Trade and customs union first. But I doubt Singapore would agree to this since the world treats them as first world (low barrier) while the rest of ASEAN is third world (high barrier).

[TriPham-jb]

Natiomal bonding more flexible on market and communications and less on geography may help

[TheoWonder]

If we use Rupiah as ASEAN currency we could be all a millionaire..

[TriPham-jb]

Single currency on cross nation trade while individual currency only domestic economy activities so less mismanaged in trade. Or they can us u.s. Dollars as common foreign trade currency and kept their own currency only in domestics trade

[janryiso]

this guy deserves more likes such a goof video

[MNomad]

Naah...look how well Euro caused collapse of Greek economy and a number of European countries. Not worth it.

[loangxuong]

What do you guys think about creating a separate currency for exchange between Asian countries while still retaining our own currency?
Would it be a good ideal .

[TriPham-jb]

Don't let the banks fail if we want trade stable otherwise suffering is beyond human endure. Fix the banks rather than let banks fail. Establish banking stability commision to ensure banks operate in safe zone and alarm if they are in danger zone and reduce over size of flow or massive move to help public digest the implications

[DanBurgaud]

ASEAN actually had that plan long time ago. But seeing what happened to Khadaffi, it wont happen.

[En-myvh]

the original own evidence green in Philippines make all of that country is green.

[jxmai]

USA will come to your door step to say hello one by one.

[taiwanstillisntacountry]

No need, just use the future BRICS+ currency.
Ditch the €&$&£.

[peaceleader]

Dear wives.. hmmmm.. a single currency can only happen when we abandon our sovereignty, borders and jurisdiction.. hmmmm..
After all it was a concept of the Western world recently introduced..
Hmmmm.. south-east Asia alway was a freedom of movement and choices to live, making a living and raising a family 👪..
Hmmmm.. sovereignty is nothing more than just the ownership of a group of people economy..
Hmmmm.. European 🇪🇺 is a great example when sovereignty and currency and wealth distribution didn't work so well..

[TriPham-jb]

The yen better than the yuan i think atleast less soldier marching around stir dirty roads. Online training and education help cross border jobs and investment

[sp]

Yah why not. Just make it easy for the big boys in the game to boycott you tiny minie nations :)