China’s progress up the technological ladder will impact Southeast Asian economies.
The term ‘second China shock’ has been coined to describe China’s changing role in the global economy. China’s aggregation of global manufacturing capacity and progress up technological ladders appears increasingly not as a passing phase in transition to a consumption and services-led economy. Rather, it is a lasting phenomenon that is reshaping the world economy and politics. Few countries will be more impacted by this than those in ASEAN, whose economies are already closely entwined…
