China will play an outsize role in how manufacturing supply chains develop in ASEAN, given its existing industrial base supplying both upstream components and a rising market share in capital equipment, which sit at the heart of industrial FDI.
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This plus geographic proximity to SE Asia gives it a decisive advantage over others including Japan, Korea and the U.S. in how supply chains and new manufacturing clusters will develop in the region.
We should expect its influence to only continue to rise in the decades ahead.
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We should expect its influence to only continue to rise in the decades ahead.