The China-Asean free trade deal is a milestone as Southeast Asian nations test the waters of economic competitiveness... "Almost one-third of the world?s population is covered in the China-Asean Free Trade Area (CAFTA), which came into being on Jan. 1. However, CAFTA is only the third largest free trade zone in the world, after the EU and the North American Free Trade Agreement zone (NAFTA). Association of Southeast Asian Nations (Asean) governments hope that their economies will benefit as businesses get easier access to Chinese markets...Most of the optimism seems to be coming from China, however, as the long-negotiated deal becomes a reality. The Chinese news agency, Xinhua, ran numerous feel-good stories talking up the merits of the new agreement, quoting officials, business people and academics in Asean states in a series of reports outlining the possible benefits of freer trade. With Chinese exports to the US and Europe down and not likely to recover anytime soon, Asean countries offer China more economic opportunity, as the more developed member-states seek to boost domestic consumption...China has at least partly overcome wariness among Asean states about its long-term intentions, while American policy toward the region remains in flux, despite claims that the US is ?back? in Southeast Asia after years of alleged indifference under the Republican administration..."