Professor at the Asian Institute of Management in Manila, Philippines
Federico M Macaranas is a professor at the Asian Institute of Management in Manila, Philippines. He is also a member of the Asean Committee of the Management Association of the Philippines.
The defeat of the "remains" in the United Kingdom June 23 referendum on its EU membership leaves lessons for Asean -- despite the fact that it does not follow EU's model of regional economic integration. Unlike the EU, Asean has not allowed for harmonised fiscal and monetary policy, and the free movement of labour and capital. Neither does it have selective equivalents of Schengen visas, euro currency, etc. although it allows an Asean "minus x" formula for certain projects. What can Asean gather from the Brexit success?