As a result of the trade war between the USA and China, which has been ongoing since the beginning of 2018, rising production costs, a volatile money market and long-standing economic restrictions, more and more companies are deciding to relocate all or part of their production to southwest Asia - to the ASEAN region.
In our series of possible alternative locations for diversified Asian business, we present different countries and their different approaches to offer a range of incentive packages designed to attract companies affected by the trade war between the US and China. On a weekly basis, we consolidate the development of the incentives of the individual countries and discuss them briefly. The developments show how the ASEAN members differ and what opportunities are available to investors seeking locations elsewhere in Asia.
ASEAN News: Recovery outlook for Thailand, Malaysia, Singapore
The global pandemic is currently still ongoing. In Thailand, Malaysia and Singapore in the ASEAN region, however, the number of cases is already declining. This allows the possibility for an economic outlook.
Hong Kong News: Measures to support individuals and businesses affected by COVID-19
The Hong Kong government has put together a massive aid package to cushion the impact of the crisis on businesses and individuals. A core element is the support of salary payments from companies to retain jobs.
In Hong Kong, as in many other parts of the region, the COVID-19 pandemic is slowing down. This provides the opportunity to address the economic consequences .
Due to the economic impact of the global shutdown, the Hong Kong government has taken measures to stabilize the economic situation and established a Pandemic Response Fund to mitigate the negative effects of the corona crisis.
China News: How COVID-19 affected global supply chains
The COVID-19 pandemic has hit the business world in an unprecedented scale and speed. It has caused the closures of business, the stoppage of factory outputs, and the disruption to global manufacturing industries and their supply networks.
ASEAN News: ASEAN & EU discuss intelligent transport systems
The EU-ASEAN Workshop on Intelligent Transport Systems (ITS) took place in Singapore on 24-25 October, hosted by the Ministry of Transport and Land Transport Authority of Singapore.
The event was jointly opened by Mr. Henrik Hololei, Director-General for European Commission Directorate General for Mobility and Transport and Mr. Yap Ong Heng, Senior Adviser, Ministry of Transport of Singapore while Secretary-General of International Transport Forum Young Tae Kim delivered a key note speech.
Hong Kong News: The Key Facilitator for US and European Firms Venturing into the Greater Bay Area
A poll of 55 US and European companies with operations in Hong Kong indicated that optimism is rising with regard to the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) development, despite the escalating trade dispute between the US and mainland China.
China News: China's Economic Outlook in Six Charts
China’s economic growth is moderating and is projected to be 6.2 percent in 2019. In its latest annual assessment of China’s economy, the IMF found the quality of growth had improved in three ways in 2018. First, the pace of debt accumulation had slowed. Second, the financial system is better regulated and supervised. Finally, the current account surplus is no longer excessive. But trade tensions cloud the outlook, and reforms need to deepen if this progress is to be continued.
China News: China's role in the Asian century of globalization
The re-emergence of Asia is among the most important shifts that will occur in our lifetimes. Next year, in purchasing power parity (PPP) terms, Asian economies will become larger than the rest of the world combined for the first time since the 19th century. Not only is Asia growing richer; as it becomes more integrated, it is also coalescing as a constructive force for global governance.
China News: What China’s period of rapid growth means for the rest of the world
The changes China’s economy has undergone over the last decade are sweeping, unprecedented, and essential. The world would be far better served by an effort to understand them than by attempting to prove that the country’s achievements are less impressive than they are.
Hong Kong News: ASEAN-Hong Kong Free Trade Agreement enters into force
The ASEAN – Hong Kong Free Trade Agreement (AHKFTA) entered into force on 11 June 2019 for Hong Kong and five ASEAN Member States, namely, Lao PDR, Myanmar, Singapore, Thailand and Viet Nam. Under the AHKFTA, Hong Kong and Singapore will grant tariff free access and will bind their customs duties at zero upon entry into force of the agreement. B… » read more
China News: The Chinese economy is slowing down – but that’s not necessarily a bad thing
The days of 10% annual growth for the Chinese economy have ended, as was inevitable. But there is good reason to believe that the real story is not the slowdown, but the shift in Chinese output from quantity to quality.