Nearly 2,000 respondents from ASEAN countries identify China as the most influential economic power in the region, according to a survey by the ISEAS-Yusof Ishak Institute in Singapore titled “State of Southeast Asia 2024.”
In Laos and Thailand, 78% and 71% of respondents respectively identify China as the leading economic power. Only these two countries attributed over 70% of the economic influence to China, surpassing other major powers such as the US, Japan, and the European Union.
While China has consistently high economic influence across ASEAN, especially the United States is influential. In the Philippines, perceptions of economic influence are more evenly distributed among China at 31%, the US at 28%, and ASEAN itself at 26%.
Despite strong economic ties with China, ASEAN remains concerned about China’s growing influence, both Vietnam and Myanmar marking it at 88%, followed by Thailand and Laos, reflecting a complex mix of worries.
When choosing between China and the US, opinions are almost evenly split, with 50.5% favoring China and 49.5% opting for the US. This marks a notable departure from previous years when the US consistently led in such scenarios.
The report suggests a growing preference for China due to Beijing’s large-scale policies, investment initiatives, and economic partnerships throughout the ASEAN region.
Find out more details by clicking HERE.
