Why Asean’s Economy Loses to China. The founder of the World Economic Forum (WEF) Klaus Martin Schwab revealed that countries in Southeast Asia or Asean are still losing to China.
According to him, the economies of ASEAN countries are experiencing delays in carrying out economic reforms. This, he continued, has caused the economies of the 10 ASEAN countries to cumulatively be lower than China’s, even relatively unchanged in the last 30 years. Where the Asean economy is only able to grow 2.7 times, while China is up to 10 times.
The founder of the World Economic Forum saw the same vision for the future of Asean developing, as China at that time. According to him, ASEAN has also had extraordinary economic progress to date.
He also said that Asean needs to be smart, which means advanced in digital, green economy, and interconnectedness.
As is known, connectivity between Asean countries continues to be encouraged, one of which is through cooperation in the use of each country’s local currency in bilateral local currency transactions or LCT transactions.
Why Asean’s Economy Loses to China. Meanwhile, countries that move very quickly in green technology will gain an advantage. He believes that middle-class country powers are capable of leading the economy, not just China and the US.