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I'm going on the 'no' front.
Japan, South Korea, and China are all far to nationalist to co-operate. India and Australia/NZ are far to different from the other countries to really get along. Indonesia is a world of it's own.
Thailand, Vietnam, Mylasia, Laos, Bangledesh - these countries share some amount of similarity and are small enough that working together is a viable option but I think they will all end up siding with one of the bigger powerhouses through a mix of bilateral trade agreements.
Myanmar / Burma is just plain on it's own. Even the Chinese give the country a wide bearth because it's a political nightmare. I think, maybe, that all governments see the horrible state of the nation but that there really isn't much that can be done right now. It's a project for another decade.
The closest to agreements that are comming out of this region are reduced tarriffs and agreements on currency reserves. By 2015 it will be an accomplishment if the region is still peaceful.
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