“India, Indonesia and Vietnam stand to benefit most as they have large labour forces and strong domestic markets,” says HSBC on MNCs moving on from China because of rising wages and an appreciating yuan.
HSBC on Asean in 2013In Indonesia, Malaysia, Vietnam on 24/01/2013 at 1:26 pm
It also highlighted in a report last month political jockeying ahead of a presidential election in Indonesia in 2014; uncertainty over the outcome of a general election expected in Malaysia soon (the Opposition alliance is tot to have a chance of winning despite the strange combi of Islamists, connected to the Muslim Brudders in Egypt, who want to chop off heads and limbs, and a moderate Malay party, and a secular Chinese, Indian party)) ; and simmering political tensions in Thailand.
This puts netizens preoccupation with Punggol East in perspective: doesn’t matter in ASEAN context. And, dare I say it, in the local context too. Either PAP wins, or PAP Lite wins.