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Ongoing tensions between the US and China have already prompted significant shifts in supply chains in Southeast Asia. However, concerns persist over the region potentially becoming a trans-shipment hub for Chinese goods, which will remain a critical policy issue for the next administration, Steven Okun said.
The United States’ approach to international trade is poised to follow its current trajectory post the 2024 presidential elections, with an expected increase in protectionist measures such as import bans, tariffs, and export controls. The Biden administration, if re-elected, is set to abide to its “lattice policy” of cooperative partnerships across Asia. In contrast, Trump, with his “transactional isolation”, could steer the US toward economic decoupling, reducing its reliance on foreign trade.
Ongoing tensions between the US and China have already prompted significant shifts in supply chains in Southeast Asia. However, concerns persist over the region potentially becoming a trans-shipment hub for Chinese goods, which will remain a critical policy issue for the next administration, emphasized Steven Okun.
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