Asean stocks can compete with China’s
China and the Association of Southeast Asian Nations are feeding each other’s growth
“China and Asean countries enjoy geographical, cultural and historical proximity, maintain close contacts and exchanges in various fields and have unique and favourable conditions for carrying out cooperation.”
Cynics could argue that China’s pre-eminence facilitates such noble proclamations and renders them less than wholly sincere or meaningful. And yet would the same address from a western leader sound more or less convincing in the current climate? Some might say western cooperation – such as exists as present – is merely a ramshackle expedient by comparison.
It was inevitable that the extraordinary growth of China’s economy should reshape our universe of global economic activity. But if China is increasingly the sun around which others revolve, then many of those closest to it might just as easily bask in its glow as be consumed by its fire. It is the west, not the east, that looks likely to feel the chill for some time to come.
Eunice Ngat-Chin Lim is a lecturer in international business strategy and strategic management at Nottingham University Business School in Malaysia, where she is also a research fellow with the Globalisation and Economic Policy Centre (GEP)