This issue analyzes China’s and ASEAN’s trade performance to assess (1) if their respective contributions have materially changed; and (2) China’s changing comparative advantage across sectors and how the rest of the region may be adjusting to benefit from it.
Here are five key takeaways from AMRO’s July update of the ASEAN+3 Regional Economic Outlook.
Cambodia’s economy had been growing remarkably in the last decade before coming to a sudden stop due to the COVID-19 pandemic. While Cambodia is now on a good recovery path, some indicators suggest long-term external vulnerability.
Lao PDR is transforming. The country took a giant step toward becoming a regional transportation hub when the Laos-China Railway became operational on December 3, 2021.
Hong Kong’s role in connecting mainland China with the rest of the world has evolved over time. The city has expanded from a key entrepot for trade and investment in the 1990s to becoming an important hub for financial intermediation and mainland capital account opening, earning it the title of super-connector.
Amid continuing economic uncertainty in the region and globally, Lao PDR’s economy also has to deal with high inflation, growing government debt, deteriorating asset quality and limited fiscal space.
Since the outbreak of the Russia-Ukraine war in February 2022, there have been intensifying concerns that disruptions in the two economies’ trade flows would have disastrous consequences for the rest of the world.
The creation of the world’s largest free trade area materialized early this year, when the Regional Comprehensive Economic Partnership (RCEP) came into force on January 1, 2022.
Credit rating agencies have downgraded dozens of Russian companies, following the sovereign’s cut to “junk” status in the wake of its war with Ukraine.
In an interview with CGTN Dialogue’s Xu Qinduo, AMRO Chief Economist, Dr. Hoe Ee Khor talks about ASEAN+3 Economic Outlook, RCEP, global supply chains and the impact of the war in Ukraine in the region.