Global Economic Dynamics: Exploring the Evolving ASEAN Industrial Supply Chain Post iPhone-Huawei Competition
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Abstract
Manufacturers and suppliers in ASEAN countries are constantly improving their technology, reducing costs, and seeking diversified markets to adapt to the new situation in the world. The potential positive impact on economic growth and technological innovation in the ASEAN region is expected. After the baptism of the New Crown Epidemic, the US-China trade war, and the global supply chain transfer, ASEAN countries have reshuffled their economies, where the top three ASEAN economies in 2023 remained Indonesia, Thailand, and Singapore; while Vietnam has overtaken the Philippines in the past two years to become the fourth largest economy in ASEAN.
Among them, Vietnam and Malaysia will become the leaders of the electronics and semiconductor industries respectively. Thanks to the signing of numerous FTAs by the Vietnamese government and the support for the development of the electronics industry, Vietnam’s smartphone has ranked as the top export in 2023. Meanwhile, Thailand and Indonesia have become the twin growth engines of the electric vehicle industry.
In conclusion, the competition between the iPhone and Huawei is driving the further development and diversification of the ASEAN industry chain.
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