South-East Asia to overtake Japan\\\'s economy by 2025

The bank's economists predict next year's establishment of the Association of Southeast Asian Nations (ASEAN) economic community, and China's increasing economic prominence, will be significant drivers for the region's growth, boosting regional trade links. Domestic factors, such as population growth and the rise of the middle class across south-east Asia will also bolster the region's economic performance. ASEAN includes Singapore, Indonesia, Thailand, the Philippines, Vietnam, Myanmar, Malaysia, Cambodia, Laos and Brunei, and has a combined nominal GDP of $2.4tn (£1.48tn, €1.89tn). Japan, which is currently the world's third largest economy, has a nominal GDP of $4.9tn. The UOB said ASEAN only needs to grow at two-thirds of the pace of its expansion between 2001 and 2013 in order for it to overtake Japan by 2025, according to ibtimes.com