The Association of South East Asian Nations, known as ASEAN, is usually thought to be more of a figurehead organization that rarely takes real action. That might be changing though as the group of ten countries is working together in the face of the global economic slowdown. Finance ministers have been very proactive and have already agreed to establish a $120 billion currency stabilization fund, which will take on a role similar to that of the IMF. For more we are joined by the BBC’s Jonathan Head in Bangkok, Thailand.