Supply chains moving out of China could create new winners in the Southeast Asian middle-class, says an official

Fri, 09/15/2023 - 03:48

A staff works at the Top Glove factory research and development lab in Shah Alam on the outskirts of Kuala Lumpur on August 26, 2020. — Southeast Asia has a rare opportunity to attract global investments amid a diversification of supply chains from China, said a Malaysian minster.
Mohd Rasfan/AFP/Getty Images

Global supply chains moving away from China is an opportunity for Southeast Asia, said one Malaysian minister.
Southeast Asia countries could take the chance to attract manufacturing investments, he said.
This could spur a strong middle class and consumer base in the region.

Supply chains diversifying away from China may be a problem for the country, but it could lead to bumper gains for Southeast Asian countries, a regional official said Friday.