A Not-So-Good Morning in Baltimore: What Does Its Port Closure Mean for ASEAN+3 Trade and Supply Chains?

Using the IMF-University of Oxford University PortWatch spillover simulator to analyze the impact of the Baltimore accident on ASEAN+3 trade, the note shows that immediate, direct repercussions for the ASEAN+3 region are small, as is the impact on its network of supply chains.

Continue ReadingA Not-So-Good Morning in Baltimore: What Does Its Port Closure Mean for ASEAN+3 Trade and Supply Chains?

ASEAN+3: Navigating Secular Trends and Uncertainties

While the ASEAN+3 region will remain a major driver of global growth in the next decade, it also faces a multitude of structural challenges. Three secular trends—aging, global trade reconfiguration, and rapid technological change—are affecting the region in complex ways that make its long-term growth trajectory less certain.

Continue ReadingASEAN+3: Navigating Secular Trends and Uncertainties

ASEAN+3 Policymakers Should Rebuild Policy Space and Address Long-term Challenges Amid Positive Outlook

The ASEAN region is expected to benefit from a combination of these favorable factors, with growth in 2024 and 2025 forecast at 4.8 and 4.9 percent, respectively while growth in the Plus-3 region is expected to remain robust at 4.3 and 4.1 percent, respectively.

Continue ReadingASEAN+3 Policymakers Should Rebuild Policy Space and Address Long-term Challenges Amid Positive Outlook