ASEAN firms are mostly bullish on trade outlook in the world, with many pivoting investment into supply chain technology to turn global trade tensions from a headwind into a tailwind, according to a global HSBC report. Accordingly, the HSBC report finds that some 86 per cent of ASEAN firms are positive about their company’s prospects in foreign trade – more than any other trade bloc and higher than the global average of 77 per cent. What is more, 75 per cent of ASEAN businesses in the survey say they believe that governments are becoming more protectionist in their key export markets – the highest reported of all trade blocs and much greater than the global average of 63 per cent. ASEAN firms anticipate more protectionism, yet are more optimistic than the rest of the world These findings come from HSBC Navigator conducted in the autumn of 2018 – a global survey involving more than 8,500 businesses in 34 markets. Within Southeast Asia, more than 1,000 views were sought across five ASEAN markets, including Singapore, Malaysia, Thailand, Indonesia, and Vietnam. The ASEAN is thus one of the most bullish regions for trade and commercial activity, despite having the highest proportion of… Read full this story
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