Beyond China: south-east Asia’s next export stars

In this episode of Short Briefings on Long Term Thinking, Malcolm Borthwick interviews Ben Durrant about the shift of low-cost manufacturing from China to Southeast Asian countries like Vietnam, Thailand, Malaysia, and Indonesia. Ben explains why China became a successful low-cost exporter, emphasizing land reform, export-led manufacturing, and focused resource allocation. The discussion covers Vietnam's potential for structural growth due to its low-cost labor, geopolitical positioning, and strong education system, highlighting the seafood company Vinhuan as an example of a successful business. The conversation further explores Indonesia's nickel processing industry, Malaysia's expertise in chip assembly and rubber glove manufacturing, and Thailand's focus on tourism and rural lending. Ben also shares his perspective on emerging markets, the importance of macroeconomics in investment decisions, and recommends the book "How the World Really Works" by Vaclav Smil.