South-East Asia loses its grip

NOT so long ago, the Association of South-East Asian Nations (ASEAN) was on a roll. Most of its seven members were enjoying political stability and economic growth rates that were the envy of the world. Rising prosperity had helped bring the regional club international respect and increasing influence. Suddenly ASEAN looks less sure of itself. One member, Thailand, faces economic catastrophe; Myanmar, which will join this month, is a pariah regime; Cambodia would have joined too, but a bloody coup intervened. To use the euphemism applied to some ASEAN currencies, its reputation is now trading in a wider band. Just as some of its members are having to rethink fundamental economic policies, so it may be time to question ASEAN's “cardinal principle”: non-interference in each others' internal affairs.