Word: hsbc
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Dates: during 2010-2019
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...increase in cheaper foreign-sourced goods can lead to inferior quality and buying decisions being made in favor of price over quality," says Peter Wong, an executive director with HSBC in Hong Kong. Vietnam, too, could lose in this scenario, as many of its manufactured products compete directly against Chinese goods on the global marketplace on the basis of lower cost...
...Still, the opportunity that the agreement opens up for Southeast Asia is huge. According to HSBC, the China-ASEAN free-trade area will encompass 1.9 billion people and a combined GDP of $6 trillion. To capitalize on this vast market, economists advise Southeast Asian companies to specialize in niche goods and services that China cannot duplicate - and to do it fast. "Given the shifting nature of China's comparative advantage, Asian countries may best re-orientate their economies towards sectors that cannot be easily replicated by China," wrote Kit Wei Zheng, a Singapore-based economist with Citigroup...
...vast appetite, yet cannot produce, according to research analyst Mark Matthews of Macquarie Securities. Low-grade electronics manufacturers in Thailand and Malaysia also stand to be beneficiaries. "These two markets are well positioned to take China's place at the lower end of the production network," says HSBC's Wong. (See the best pictures of the week...