THE ASEAN TIGER IS ABOUT TO SPRING!
The ASEAN Countries are becoming a dominant global force, and as a collective entity can rival other economic centers of power in Asia such as China. ASEAN is fifty years old and consist of ten nation-states, all in various stages of growth and development. The ASEAN Economic Community is about to come into focus in 2015, and will become a distinct force to be reckoned with. According to a recent post in McKinsey & Company, Michael Zink, Citi's head of ASEAN, concludes the following:
- ASEAN is increasingly thinking about connectivity - the ability to link their supply chains and distribution channels;
- Can compete with China in the manufacturing sector;
- Will be driven by urbanization where a concentration of talent and opportunities will drive new company formation (Taylor) ;
- Has a young and dynamic workforce that will create a demand for more professional training (Taylor);
- Has a market capitalization where the 5 major stock exchanges have quintupled between 2000 - 2014, where equity markets are larger than bank lending; and
- Where the ASEAN Disclosure Standards Scheme means that if debt in one country is issued, you only need one set of disclosure documents, reducing red tape.
All of these reasons offer an excellent reason for global investors to start looking at the ASEAN Group in a new light.
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