Dong He and Allen Ng

BOTH WRITERS ARE FROM THE ASEAN+3 MACROECONOMIC RESEARCH OFFICE. DONG HE IS CHIEF ECONOMIST AND ALLEN NG IS PRINCIPAL ECONOMIST

Customers at a shopping centre in Jakarta. Asean, with nearly 700 million consumers and rapidly expanding middle classes, represents one of the fastest-growing demand bases in the global economy.
NEW GLOBAL ORDER

Asean+3, not the US, is now the world’s largest market

This structural shift has measurable consequences for how shocks propagate