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Are ASEAN Stocks the Next Big Thing?
Japan’s growth was initially fueled by cheap labor and when labor back home became too expensive Japanese businesses sent jobs offshore. Likewise European companies and American companies outsourced to India and China. But China is getting expensive as is India. The next growth engine in Asia might be in the South East. ASEAN refers to the association of South East Asian Nations. Are ASEAN stocks the next big thing? bloomberg markets sheds light on this subject in an article about a commodities rebound but not in China.
china may be slowing, but a commodities rebound is under way and the world’s biggest miner knows where the next growth story is building – emerging economies in southeast asia.
combined gross domestic product in the asean-5 nations – indonesia, thailand, malaysia, the philippines and vietnam – will rise about a third to $3 trillion in the five years to 2020, fueling commodities-intensive infrastructure projects. momentum like this across asia will help maintain and increase commodity demand, bhp billiton ltd.’s chief executive officer andrew mackenzie said this week.
Australian mining operations are especially interested in renewed growth in South East Asia. If ASEAN stocks are the next big thing, Australian miners might be in for resurgence. What sort of ASEAN stocks might be good investments? But first of all which are the ASEAN nations?