By John Wong
Publication through Wong, John
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Additional info for ASEAN Economies in Perspective: A Comparative Study of Indonesia, Malaysia, the Philippines, Singapore and Thailand
Tin is one of the few success examples. As of 1977, the International Tin Council is made up of seven producing members, out of which three are ASEAN members (Malaysia, Indonesia and Thailand), in addition to the twenty consuming countries. Like 36 ASEAN Economies in Perspective other commodity agreements, the ITC operates by setting overall output levels and allocating production shares to various producing members in accordance with the agreed quotas, so as to maintain steady prices by avoiding overproduction.
Suffice it to say that it is vastly more difficult to expand the scope of and to step up the pace of industrial co-operation than tariff concessions. 35 In contrast to the European Economic Community, which operates on majority rule, ASEAN requires unanimity to push major decisions, which often slows down negotiations, because the slow mover can drag the feet of the fast mover. Indeed too many rounds of negotiations have actually been unnecessarily created because of over-emphasis on the so-called 'traditional spirit of ASEAN friendship and solidarity'.
_ - Minerals •••••••••••• Food-stuffs - - - - - - Manufactures - - - - Non-ferrous metals - - - - Agricultural raw materials I 300 ~ "''" ! ,. .. ', ,. E f·. /' . . -/ . ~/ ,. '/- .. '. ~.... ::"/-. .... ,-- .... ' .......... 1 Price Indices of Manufactured Goods in World Trade and Primary Commodities Exported by Developing Countries, 1970-75 (\963 = 100) Source: Centre for Development Planning Projections and Policies of the United Nations Secretariat, based on United Nations, Monthly Bulletin of Statistics.
ASEAN Economies in Perspective: A Comparative Study of Indonesia, Malaysia, the Philippines, Singapore and Thailand by John Wong