Hey there! Have you ever wondered how countries trade with each other? 🤔 Let’s dive into the exciting journey of trade between ASEAN countries and China! 🌏
Over the past few decades, ASEAN (that’s a group of Southeast Asian countries) and China have become super trade buddies! 🤝 They started by trading things like rice, spices, and other goods. But guess what? Now they’re trading high-tech gadgets and using the internet to do it! 💻📱
How Did This Happen?
It all began with an agreement called the ASEAN-China Free Trade Agreement in 2002. This agreement helped them reduce taxes on traded goods, making it easier and cheaper to trade. By 2023, their trade reached over $900 billion! That’s a lot of toys, phones, and noodles! 🎉
The Rise of E-Markets
With the internet becoming super popular, companies like Alibaba, JD.com, and Tencent from China started working with ASEAN countries. They created online shopping sites like Lazada and Shopee. Now, people can buy and sell things online easily! 🛍️
Not only that, but payment apps like Alipay, WeChat Pay, GrabPay, and Gojek make it easy to pay for things with your phone. No cash needed! 💸📲
What Does This Mean for Everyone?
Small businesses can now sell their products to more people, and we get to enjoy more cool stuff from different countries! 🎁 But there are still challenges like keeping our data safe and figuring out fair rules for everyone. 🛡️
The Future Looks Bright!
By 2030, ASEAN’s digital economy (that’s all the online business) might reach $1 trillion! 🚀 With new technologies like 5G and artificial intelligence, who knows what amazing things we’ll see next? 🌟
So, next time you shop online or use a cool app, remember that it’s all part of a big adventure between countries working together! 😊
Reference(s):
The trajectory of ASEAN-China trade: From E-market to free market
cgtn.com
