Supply Chains Re-routed to Asean
The relocation of production bases from China to ASEAN is perhaps the most notable benefit of the ongoing US-China trade war for the region. Over the past several decades, companies have flocked to China to take advantage of their low-cost production base and fast-growing middle class population with burgeoning spending power.
With the US-China trade tension – which China’s Ministry of Commerce warned could be “the largest trade war in economic history to date” – disrupting supply chains, ASEAN is bracing for a surge in foreign direct investment (FDI).
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