Having learned the lessons of the 1997-98 financial crisis, Asia has since enjoyed a period of steady growth driven by consumption, investment and exports. The traditional model of low-cost manufacturing and exports to advanced markets has gradually been replaced with a more consumer-oriented and value-added approach.
Historically fragmented and often overlooked by emerging market investors, South-east Asia has become one of the leading destinations for FDI in recent years. The creation of ASEAN, South-east Asia’s unified economic and trade bloc, has encouraged regional cooperation and better connectivity.
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