Asia in Focus

In the past few weeks, we have seen a tectonic shift in Bangladesh’s political landscape. Former Prime Minister Sheikh Hasina – who ruled for the last 15 years with what some describe as an Iron Fist, particularly against the opposition – resigned and fled the country in early August following weeks of unrest, which began as student-led demonstrations against job quotas and grew into a nationwide...

In the past few weeks, Thailand has undergone a dramatic political transition with the appointment of Paetongtarn Shinawatra as the new prime minister. This development comes on the heels of a period of uncertainty and political turmoil following the dissolution of the Move Forward Party, the main opposition. Paetongtarn is the fourth member of the Shinawatra family to assume the role of prime min...

Investors in Asia are still processing the news of the sudden passing of Vietnam’s long-serving leader, Communist Party Secretary General Secretary Nguyen Phu Trong in mid-July. Trong was one of the country’s most powerful leaders in decades and had overseen the explosive growth of the Vietnamese economy – during which GDP more than doubled, Vietnam signed several significant foreign trade agreeme...

The Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC) wrapped up on 18 July in Beijing. It comes at a critical juncture for an economy beset by profound challenges. Angela Mancini , Partner, has a discussion with Andrew Gilholm , our Principal and Director of analysis for Greater China and North Asia, on the key takeaways from the Third Plenum, the future di...

Indian Prime Minister Narendra Modi secured a third term, but his Bharatiya Janata Party (BJP) unexpectedly lost its parliamentary majority after significant losses in key states to opposition parties, particularly the Indian National Congress (INC). For the first time, Modi must rely on his coalition partners to advance his political agenda. Angela Mancini , Partner, speaks with Khalid Shah , Ana...

Vietnam’s anti-corruption drive, dubbed the “burning furnace,” started in 2016 but has intensified since 2021.   Many senior officials in the country have come under investigation. They’ve been asked to leave their positions or have been forced to step down. Most recently, Vietnamese property tycoon Truong My Lan was sentenced to death for her role in a USD 12.5 billion financial fraud scheme. Inv...

This April has seen a surge in bilateral contacts between the US and China, from the Xi-Biden phone call to Janet Yellen and Antony Blinken’s visits to Beijing. Relations between the two countries seem to be entering a holding pattern, as we mentioned in the RiskMap 2024 Top Risks .  President Joe Biden and former President Donald Trump are competing to raise the stakes against the world's second...

In a busy election year, the most high-profile race in 2024 is undoubtedly the rematch between President Joe Biden and former President Donald Trump as the two candidates once again vie for the Oval Office. With six months until election day, how the rematch could unfold, and its global implications, are top-of-mind for many businesses. Organisations need to prepare for a range of compounding risk...

Indonesia will announce the official results of its presidential elections on March 20. Pro-business defence minister Prabowo Subianto looks set to win the presidency outright, avoiding a run-off in June.  Longtime followers of Indonesia will know Prabowo as a controversial general and the son-in-law of authoritarian President Suharto, who in the late 1990s was banned from the US and dismissed fro...

In this episode of Asia In Focus, Angela Mancini , Partner, speaks with Khalid Shah, Analyst, about how businesses operating in India can prepare for the future. India is often regarded as sitting in a geopolitical sweet spot. The country is seen as a rising power on the global stage as well as an ally to several Western states. All eyes will be on the country in April and May 2024 as India heads...

Indonesia just closed its presidential candidate registration on 25 October 2023. After much anticipation, voters finally have confirmation that there will be 3 presidential pairings set for the Valentine’s day vote next year, which is unlikely to produce a winner with a majority of the 200 million votes up for grabs.  As current president Joko “Jokowi” Widodo is unable to run for a third term, bu...

After the US Department of Justice (DOJ) updated its guidelines for compliance in 2020 to include the use of data analytics, many companies have been contemplating how to integrate analytics into their compliance and audit programs. While Asian regulators are currently less stringent in their guidance, it is highly likely that others will follow suit, and companies both inside and outside Asia nee...

Multiple data leaks in recent years have prompted governments across the region to scrutinise the processing and flow of information within and beyond their societies. As technology adoption surges, regulators are increasingly concerned about the implications for national security – and are building national frameworks on how information is being processed. While China is often emphasised in the h...

Talk of India’s economic rise has been around for the last decade. Its skilled workforce, coupled with low labour and production costs, makes it an attractive market for investors. India's strategic position also enhances resilience in regional supply chains for neighbouring countries navigating geopolitical tensions. However, there are challenges inherent in this complex market, and businesses of...

Thailand held its general elections recently on 14 May, where the opposition beat the incumbent pro-military coalition. Surprisingly, it was the progressive Move Forward Party that emerged as the largest party, not pre-election favourite Pheu Thai. However, forming the government will be a tricky prospect as the incumbent coalition and the Senate could spoil the party for the opposition.   The peo...

Thailand will be holding its general elections less than a week, on 14 May. This upcoming election is shaping up to be the most competitive one since 2011. In the past, elections have almost always favoured the current opposition party Pheu Thai led by former premier Thaksin Shinawatra. Now, Thaksin – more specifically his daughter – is now back in the spotlight as Pheu Thai tries to repeat its el...

The Communist Party of Vietnam has been on an aggressive anti-corruption drive. Earlier this year, in a move unprecedented in recent Vietnamese political history, three key national leaders including the ex-president were forced to step down on charges of corruption.  The campaign, commonly described as the ‘burning furnace’, has mainly affected the real estate, healthcare and banking sectors, but...

China’s reopening after three years of zero-COVID policy has been one of the most discussed topics for international companies recently. The policy shift spurred hopes of a broad economic revival. With pent-up demand being released, China saw a strong rebound in consumption in January, directed at sectors like tourism and retail. Business activity is also picking up, something that can be seen in...

Few National Congresses of the Communist Party of China (CPC) in history seem to have generated as much global media attention and market response as this year’s, underscoring how business is increasingly driven by politics. Companies are concerned about how China's political trajectory and business environment will evolve over the next five years or more. Have the fundamentals of China's long-ter...

The Pacific Islands are gaining attention amid the great power rivalry. All sides are stepping up their engagement with the region to expand influence. But the Pacific islands are not just pawns in the geopolitical contest – they are taking it as a chance to promote their own agenda, which may lead to new interest from businesses. Angela Mancini , Partner, has a talk with Daniel Rechtschaffen , An...

Sri Lanka still faces political uncertainty and deep economic turmoil. Global attention remains on the country. Economies with the potential for similar issues see its plans to manage debt with international creditors and set for IMF bailout to be replicable, and – despite the challenges – there are still opportunities in Sri Lanka for international businesses. Join Angela Mancini , Partner, as sh...

The imprisonment of Malaysia's former Prime Minister Najib Razak made headlines recently. The scandal tied directly to him is not just a personal blow, but also affects the prospects of the United Malays National Organisation (UMNO), Malaysia’s leading political party. While political stability is a perennial issue in Malaysia, it remains a well-placed investment destination for companies looking...

A few weeks after Nancy Pelosi’s visit to Taiwan, media attention started to dwindle, but the ripple effect is long-lasting. Pelosi's trip may have ushered in a new normal of increased US-China tensions, growing actions and countermeasures around Taiwan and more broadly, and a deepening dilemma for businesses. From security to supply chain, the risk exposure is greater than what companies may have...

Despite the global headwinds, Vietnam continues to offer a strong value proposition for investors, and has continued to attract keen investor interest with its strong growth story. However, Vietnam is also known for its opaque regulatory and political landscape. Join Angela Mancini , Partner, as she discusses with Stephen Norris , Partner and lead analyst for Southeast Asia, and Linh Nguyen , Asso...

Rising concerns in the context of geopolitical tensions and COVID-19 have intensified the focus on global supply chains. Judging by the numerous headlines and discussions about diversification from China to South-East Asia, it would appear that the supply chain landscape is in the process of being completely reshaped. But in fact, many businesses underestimate not only how reliant on China their s...