The vision for the ASEAN Economic Community (AEC) is a single market with a free flow of goods, capital and skilled labor, which should help the region compete with the likes of China for foreign investment.
The move conjured visions of the great opening of the Western frontier in the 19th century. But for now, the costs of pioneering the economic exploitation of space remain a little higher than just hitching a wagon.
U.S. exports remain constrained by sluggish global demand and the strong U.S. dollar, HSBC points out, but the bank expects the medium-term outlook for U.S. exports to improve as emerging markets recover from a cyclical slowdown.
The country posts 7.4% growth in the third quarter — including 7.0% or more in manufacturing, financial, insurance, trade and transport — after steady 7.5% and 7.0% growth in the year's first two quarters.