The Impact of the Covid-19 Pandemic on the Development of Economic Regionalism in South East Asia

Abstract

The purpose of this research is to examine the impact of the Covid-19 Pandemic on the dynamics of the development of economic regionalism in Southeast Asia. The Methods used in this research is qualitative and descriptive research with data collection techniques of literature study was strengthened by interviewees. This study uses qualitative analysis to explain sub-discussions in the context of issues in international relations. The results of this study indicate that the COVID-19 pandemic has had a major impact on the economy in the Southeast Asian region as seen from the decline in various macroeconomic parameters in Southeast Asian countries. In the financial sector, this pandemic put considerable pressure on the stock market in the region, especially during the period from January to March 2020. Meanwhile, the repression of the financial sector from foreign capital outflows caused the short-term yield on government securities from various regions to increase. in February to March 2020. The conclusion reached is that the COVID-19 economic recovery can be enhanced by greater efforts to increase resilience and long-term sustainability in ASEAN, including coordinated and targeted responses to increasing climate risks and measures to tackle poverty and inequality