FOR decades, countries worldwide – and particularly in Asia – have experienced huge rewards from globalisation. Trade has boosted economies and livelihoods, helping to pull millions out of poverty. However, that trajectory may be at risk. The 2023 Hinrich-IMD Sustainable Trade Index noted signs of what it described as “slowbalisation”, linked to heightened geopolitical tensions, increasingly protectionist trade policies, and changes in global supply chains. Fragmentation, it warned, could undermine how trade can promote sustainable development. Notwithstanding these, South-east Asia is well placed to thrive. The emergence of high-growth corridors internally and to Africa and the Middle East, and the rising integration of Asean suppliers into the global trade ecosystem as international businesses move their supply chains closer to end-consumers, will see the region boost its share of global commerce. According to our Future of Trade report, intra-Asean trade is expected to climb nearly 9 per cent annually over the next decade.   https://www.businesstimes.com.sg/international/global/a-sustainable-trade-ecosystem-is-asean-s-best-route-to-building-resilience (ICE SINGAPORE)

Fonte notizia: The Business Times, 28 February 2024