ASEAN could replace China as manufacturing and consumption hub

ASEAN could replace China as manufacturing and consumption hub

Filipino manufacturing; Credit: Flickr/ILO in Asia and the Pacific

Southeast Asia has the potential to replace China as the global manufacturing centre between now and now and 2030, according to a research report from ANZ Bank, titled “ASEAN: The Next Horizon“.

The report highlights the potential of ASEAN, driven by growing economic integration, favourable demographics, low labour costs and geo-strategic position between Europe, Africa and North America.

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