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- Asia & Beyond
ASEAN member states have widely divergent relations with the US and China. The growing East-West rivalry and the Russia-Ukraine war are creating new tensions within ASEAN. Singapore and many ASEAN member states maintain neutrality in the US-China rivalry despite the occasional incoherent signals from within ASEAN. Coupled with the post-pandemic landscape and the new uncertainties created by European war, building resilience while recovering from the pandemic has become a top priority for many member states. 2016 saw the inception of the ASEAN Economic Community. RCEP was signed in Nov 2020 and upon ratification, it will become world’s largest trade agreement by economic output and would increase trade and integration among the Asian economies. As China consolidates, RCEP may push the world’s factories from China to the rest of Asia; chiefly into the ASEAN member states.
Will the supply chain dislocation help ASEAN achieve economic integration? Where are the bright spots within ASEAN? Is technology driving the kind of growth we used to see in the last decade? Will ESG and Sustainability remain relevant in ASEAN? New security concerns have arisen recently. How has geopolitics affected the way we do business? The pandemic’s cumulative effects on labour, capital flows and productivity are challenging. Together with geopolitics introducing inflation and new supply chain bottlenecks; economic life is set to get worse. What can we do about it?
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