The Association of Southeast Asian Nations (Asean) has remained a bright spot for investments despite the global economic turmoil. Since its establishment as the Asean Economic Community a decade ago, the region has made progress in regional integration and attracting foreign direct investment (FDI). For instance, UOB's FDI advisory unit was launched in Indonesia in 2013, indicating the growing interest of investors in the region.
https://www.scmp.com/opinion/asia-opinion/article/3293376/asean-remains-investment-bright-spot-messy-global-economy?module=top_story&pgtype=sectionThe Australian Lowy Asia Power Index ranked US President Joe Biden lower than his predecessor Donald Trump in terms of economic influence in the region, citing that Biden maintained all of Trump's tariffs but failed to negotiate new trade agreements like those with Canada and Mexico under the United States-Mexico-Canada Agreement or Japan. This decision was seen as a missed opportunity to stay in the Trans-Pacific Partnership and avoid threatening the North American Free Trade Agreement. In contrast, Trump had negotiated several trade deals during his presidency. The Biden administration's Indo-Pacific Economic Framework (IPEF) was proposed as an alternative, but it was hindered by opposition from anti-trade ideologues within the US Trade Representative's office.
https://koreajoongangdaily.joins.com/news/2025-01-10/opinion/columns/Assessing-the-Biden-administrations-legacy-in-Asia/2219075Chinese companies have made a strong presence at this year's Consumer Electronics Show (CES) in Las Vegas, despite concerns over potential tariffs imposed by incoming US President Donald Trump. Companies such as XPeng and TCL showcased their innovative products, including a "flying car" and an AI-enhanced television. However, the threat of 60 percent tariffs on Chinese goods has loomed large over the event, with some analysts viewing it as a negotiating tactic. Chinese companies have expressed varying levels of concern about the threat, with some, such as Jitlife and Mammotion Technology Co., acknowledging unease but also planning to shift production to other countries to avoid the tariffs. Others, like Shenzhen Haoqitansuo Technology, are brushing off the threat, predicting that their products will still attract US customers despite new tariffs. The Consumer Technology Association has expressed hope that Trump will pivot from his aggressive trade posture and avoid unnecessary tariffs, which would be devastating for the industry. US companies at CES have also steered away from political discussion, but executives have expressed concerns about the potential impact of tariffs on their businesses.
https://www.montanarightnow.com/national_news/trade-war-worries-loom-over-las-vegas-tech-show/article_ba3571cd-73f8-51dd-a62d-efff24b174cc.htmlIndia's Commerce Minister Piyush Goyal has stated that a free-trade agreement (FTA) between India and the four-nation European Free Trade Association (EFTA) is progressing rapidly, with strong political support for the deal. The implementation of the agreement is expected by the end of 2025. This development may give impetus to a similar FTA with the larger EU, particularly as Europe prepares for a more distant relationship with the US under President Donald Trump's return to office and its trade row with China.
https://www.scmp.com/week-asia/economics/article/3294085/india-and-european-nations-push-faster-fta-launch-ahead-trumps-return?module=top_story&pgtype=section#commentsIndustry Minister Lee is set to visit the US this week to discuss economic exchange between the two countries amidst turbulent financial times. The Industry Ministry has chosen to support exporters in Korea, which saw a record high export growth of 8.2% in 2024, reaching $683.8 billion. To boost cooperation and navigate uncertainties, Lee emphasized the need for collaboration between the government and private sector, as well as effective communication with the US business community ahead of the start of the second Donald Trump administration.
https://koreajoongangdaily.joins.com/news/2025-01-09/business/industry/Industry-Ministry-vows-closer-ties-with-key-sectors-as-global-trade-uncertainty-looms/2218626The Malaysia-Singapore JS-SEZ, a special economic zone between two countries, marks an initial step towards closer integration between ASEAN economies. The agreement aims to pool resources and leverage each country's strengths, with the goal of realising the potential of the large ASEAN market. To bring this SEZ to life, a high-level committee will develop a blueprint, which will facilitate joint promotion and administrative infrastructure for investments. The Iskandar Malaysia Facilitation Centre in Malaysia has already been established to expedite bureaucratic processes. By 2025, physical details of the vision for each node are expected to be implemented. To ensure long-term success, steps are being taken to address concerns about the project's political viability.
https://channelnewsasia.com/asia/johor-singapor-special-economic-zone-rafizi-ramli-malaysia-economy-minister-4847491Omani Foreign Minister Badr Bin Hamad Busaidi commended the strong ties between Jordan and Oman, highlighting mutual trust and respect that underpin their relationship. He noted extensive cooperation and partnerships across various sectors, citing positive outcomes from Omani students pursuing education in Jordan and the contributions of Jordanian professionals to Oman's educational progress.
https://www.jordantimes.com/news/local/omani-fm-commends-ties-jordan-urges-collective-action-regional-issuesUS President-elect Donald Trump plans to use the International Economic Emergency Powers Act to implement a new tariff programme, which could include tariffs of up to 60% on Chinese goods and 25% on Canadian and Mexican imports. The move is reportedly being considered as a national emergency measure, although it has not yet been confirmed.
https://www.thenews.com.pk/print/1270090-trump-mulls-national-economic-emergency-declaration-to-allow-for-new-tariffs-reportThe global financial markets are experiencing a significant downturn due to concerns over inflation risks and the policies of US President Donald Trump. The Federal Reserve's minutes from its December meeting highlighted potential inflation risks, leading to a net outflow of $582 million from Bitcoin ETFs and $159 million from ether ETFs. Meanwhile, XRP has surged 300% since November amid optimism for Trump's crypto-friendly policies, with some analysts predicting another 40% surge. Bitfinex Derivatives is relocating its services to El Salvador after obtaining a license to operate under the country's crypto-friendly framework. The global bond market is also experiencing a selloff, with yields reaching multi-year highs in the US, UK, and Eurozone due to inflation risks and concerns over Trump's tariff threats. In Asia, central banks are facing challenges as the strong US dollar devalues their currencies, raising import costs and complicating their economic strategies.
https://www.coindesk.com/daybook-us/2025/01/09/crypto-daybook-americas-turmoil-across-the-pond-as-bitcoin-defends-93-k-after-300-b-wipeout