Southeast Asia is a top choice for firms diversifying supply chains amid U.S.-China tensions [MSNBC.com]
GlobalFoundries Inc. (GFS)
Company Research
Source: MSNBC.com
Skyline, Ho Chi Minh City, VietnamJohn Harper | Photodisc | Getty ImagesSoutheast Asia has emerged as a top choice for firms looking to diversify production away from China, including Chinese companies, amid escalating tensions between Washington and Beijing."Southeast Asia is well-placed to benefit significantly from the China+1 phenomenon as both foreign and Chinese companies diversify their supply chains and operations," said Kuo-Yi Lim, co-founder and managing partner of Southeast Asian venture capital firm Monk's Hill Ventures."Geopolitical [tensions have] accelerated these activities, which started during the Covid lockdowns," Lim added.The "China Plus One" strategy seeks toThis has spurred greater investments into the ASEAN bloc. Foreign direct investments into the ASEAN economies of Indonesia, Malaysia, Philippines, Thailand, Singapore and Vietnam rose to $236 billion in 2023 compared with an annual average of $190 billion between 2020 and 2022,OCBC economists said in a May re
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