Abstract:The ASEAN Economic Community(AEC)was hit by the sudden outbreak of COVID-19 pandemic in 2020,which slowed economic growth,reduced import and export trade,contracted foreign direct investment,reduced processing capacity,and put the survival of small and medium-sized enterprises at risk. ASEAN countries took measures to mitigate the economic impact of the epidemic,not only by implementing short-term stimulus measures and long-term structural measures to maintain economic stability,but also by strengthening inter-country policy coordination within the region to promote inter-country economic cooperation for recovery. Besides,they emphasize the promotion of intelligence and technology around Industrial Revolution 4.0 to address the challenges hindering ASEAN industrial development. Despite the difficulties during the epidemic,the AEC has made new progress in promoting regional cooperation,leading to the formal signing of the Regional Comprehensive Economic Partnership(RCEP)and participation in the “Belt and Road” initiative,further highlighting the important position and role of ASEAN in regional cooperation. Looking ahead to 2021,the AEC will work hard in the direction established in the AEC Master Plan 2025 and continue to develop in the direction of integration,injecting new vitality into the regional economy and acting as a lubricant and catalyst for the recovery of the world economy.
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