How Asean can loosen dependence on US, China amid trade war fallout

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Amidst ongoing US-China trade tensions and disruptions to global supply chains, ASEAN nations are seeking to diversify their economic partnerships. While acknowledging deep-rooted ties with the US and China, analysts suggest a gradual shift towards broader engagement with markets like Europe, India, and the Middle East. ASEAN economic ministers recently convened in Manila, reaffirming their commitment to open markets and strengthened regional cooperation. They aim to bolster investor confidence and reinforce regional supply chains through existing agreements. The bloc is prioritizing the ratification of an upgraded ASEAN trade agreement and a framework to promote digital integration and cross-border data flows to enhance participation in the regional digital economy.
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