Supply Chain Shift from China to Southeast Asia Could Fuel Middle-Class Growth

Trade & Border IssuesHot Spots
Written By Jennifer Joslyn

🇨🇳 Supply Chain Shift from China to Southeast Asia Could Fuel Middle-Class Growth.

Liew Chin Tong, Malaysia's deputy minister of investment, trade, and industry, believes that the diversification of supply chains away from China presents a significant opportunity for Southeast Asian countries. He views this shift as a chance to attract manufacturing investments that have historically favored China, potentially leading to robust economic growth and the development of a stronger middle class in the region. Liew emphasized the need for Southeast Asia to seize this once-in-a-generation opportunity, especially as the COVID-19 pandemic has exposed the risks of overreliance on China as the world's factory. This supply chain diversification is part of a broader trend toward adopting a "just-in-case" approach for greater supply chain resiliency.

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Jennifer Joslyn
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