AMRO：东盟处于十字路口：深化经济一体化的途径（英文版）

ASEAN is one of the world's most dynamic economic regions, with deep integration into global value chains. Yet intra-regional trade has stagnated at around 22 percent of total trade for two decades – well below levels observed in ASEAN+3 and the EU. This paper argues that the persistence of modest intra-ASEAN integration reflects structural constraints – including diverse development levels, limited production sophistication, and shallow intra-regional investment – that trade liberalizati