ASEAN Well-Positioned To Withstand China Slowdown

ASEAN is the Association of Southeast Asian States. It’s comprised of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. While ASEAN has spent the last few years becoming more economically connected to China, that correlation has weakened sharply this year putting ASEAN in a good position to continue growing despite the slowdown in China, according to the Chief of Asia Pacific at ANZ Research, Glenn Maguire. ASEAN crisis Before the recent crisis, ASEAN was more sensitive to changing demand among G3 nations (the U.S., Europe and Japan). Asian economies have historically been more strongly correlated during downturns…