Cebu, December 8:

China has now outstripped ASEAN’s top economies in exports and the bloc needs to re-think its economic model or risk being marginalised, experts said here on Friday.

While the planned creation of a regional single market would help, the 10-country group faces obstacles including a traditional unwillingness to be seen interfering in each other’s affairs, they said.

The warnings came ahead of the ASEAN annual summit next week, where the bloc is set to move its target date for a single market to 2015.

Experts said the 10-nation group had to act decisively to avoid falling behind India, which is increasingly challenging China as the other regional economic powerhouse.

“India over the next several years has the ability to replace ASEAN as number two” behind China in terms of high-value output, said Scott Price, Asia-Pacific chief executive for express delivery firm DHL.