Political Risks Growing In ASEAN Area: BofAML

Political risks have been growing in ASEAN lately as some countries enter an election phase, which compounds growing economic headwinds, notes BofAML. Striking a cautionary tone, Hak Bin Chua and team at Bank of America Merrill Lynch in their September 10, 2015 research report on “GEMs Daily – Asia Edition” point out that ASEAN is experiencing slowing GDP growth: Singapore faces elections on September 11 Chua et al. point out that the ruling People’s Action Party in Singapore is capitalizing on the groundswell of patriotism after celebrating the country’s 50th anniversary. The analysts argue that the PAP hopes to improve…