A recent survey of nearly 2,000 respondents from the 10 ASEAN countries has identified China as the most influential economic power in the region.
The survey was conducted by the ISEAS-Yusof Ishak Institute in Singapore titled “State of Southeast Asia 2024” and published on 2 April.
In Laos and Thailand, 78 percent and 71 percent of respondents respectively identified China as the leading economic power. The report underscores China’s significant role as Laos’ largest foreign investor and primary export market. Notably, only the two countries attributed over 70 percent of the economic influence to China, far surpassing other major powers such as the US, Japan, and the European Union.
While China has consistently high economic influence across ASEAN, other countries, including the United States, also hold considerable sway. Notably, in the Philippines, perceptions of economic influence are more evenly distributed among China at 31 percent, the US at 28 percent, and ASEAN itself at 26 percent.
Despite China’s strong economic ties with ASEAN countries, the survey also reveals substantial concern about its growing influence. Researchers reported high levels of concern for both Vietnam and Myanmar marking it at 88 percent, which are immediately followed by Thailand and Laos, reflecting a complex relationship between economic dependence and international geopolitical worries.
Additionally, when participants were presented with the hypothetical scenario of choosing between China and the US, opinions were almost evenly split, with 50.5 percent favoring China and 49.5 percent opting for the US. This marks a notable departure from previous years when the US consistently led in such scenarios.
The report suggests this growing preference for China due to Beijing’s large-scale policies, investment initiatives, and economic partnerships throughout the ASEAN region. As China’s influence spreads further throughout ASEAN, the region stands at a critical crossroads, facing the intricate interplay of geopolitical forces and economic alliances amidst shifting global dynamics.
