A Foreign Alliance Talk
As manager of the international department for your company, you have been asked by the local Chamber of Commerce to deliver a speech on 'foreign trade'.You are requested to include the EU, ASEAN because many members believe that the extreme right of politics is correct when it asserts that Australia must protect Australian business and jobs.As you work through your notes, you are trying to decide on the best information you can present in the allotted half-hour.
-Refer to A Foreign Alliance Talk (Scenario).One of the hottest topics of your talk will be ASEAN, an issue that has the attention of the local business community.How did the GFC affect ASEAN?
A)Australia, China, Japan, South Korea, India and New Zealand have joined the alliance as a result of the GFC.
B)It has led to free trade among all ASEAN members.
C)The adverse effects on countries in the region have created more interest in integrating ASEAN members.
D)The GFC had no impact on ASEAN members, and they are now the second largest trading block in the world.
E)The economic impact was significant.And the alliance is not expected to last.

Question

Quizplus · Accepted Answer

The GFC (Global Financial Crisis) had an adverse effect on countries in the ASEAN region, which created more interest in integrating ASEAN members. This is because integration could provide a more stable economic environment and reduce the impact of such crises in the future. Thus, this option is the best choice as it accurately explains the impact of the GFC on ASEAN. Option A is incorrect as it is not accurate to say that joining the alliance was a direct result of the GFC. Option B is incorrect as it oversimplifies the impact of the GFC on ASEAN. Option D is incorrect as it is not accurate to say that ASEAN is the second largest trading block in the world. Option E is incorrect as it does not accurately reflect the current state of the ASEAN alliance.