Global trade tensions continue to dominate this year’s headlines and the shift of production to efficient ASEAN countries is accelerating.
lobal trade tensions continue to dominate this year’s headlines and the shift of production to efficient ASEAN countries is accelerating.
ASEAN businesses are clearly paying attention. They are making incremental changes to their supply chains, but is the pace of change fast enough?
HSBC’s global Navigator survey — which was launched recently and included the views of more than 8,500 corporates (1,000 in ASEAN) — finds Southeast Asia as the most trade-positive region in the world. Moreover, Navigator reveals that business decision-makers in ASEAN view the global shift towards protectionism as increasing the value of their business.
Being both positive towards trade and protectionism seems a little counter-intuitive at first glance. But dig a little deeper and it is clear that businesses are shrewdly seeing and capitalizing on the opportunity amid the emerging trade disruption.
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