Although several ASEAN countries recently joined a cross-border digital payment system, the fact remains that the global financial system follows the U.S. dollar. That means, like it or not, when the U.S. Federal Reserve raises or lowers interest rates it has a ripple effect on markets around the world. For proof of this, we need … Read more
2023 was a year of big economic news in Southeast Asia. Investors continued to punish tech giants, Tesla entered the Malaysian market, and countries across the region worked hard to control inflation and stabilize their currencies. As we welcome in the New Year, now seems like a good time to take a look ahead at … Read more
On October 20, the Gulf Cooperation Council (GCC) and the Association of Southeast Asian Nations (ASEAN) convened their maiden summit in Riyadh, with the world’s attention focused on the gory conflict between Israel and Hamas in Gaza. The GCC was founded in 1981 and currently comprises six countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and … Read more
Advertisement When work on a $4 billion manufacturing plant for Vietnamese automaker VinFast began in North Carolina in July 2023, Ted Osius, the head of the U.S.-ASEAN Business Council, expressed a hope shared by many companies and governments in the Southeast Asian electric vehicle (EV) space: that they would be eligible for tax credits under … Read more