Amid a backdrop of intensified geopolitical tensions and increased intra-Asian and South-South trade, businesses globally are recalibrating their operational strategies.

China still retains a pivotal role in global trade, but multinational corporations have accelerated their search for additional countries to fortify their supply chains and reposition their business models for agility, resilience and growth. This changing global landscape offers other Asian nations, beyond China, new opportunities to strengthen their participation in trade. But the race to secure the coveted “China-plus-one” status is intensifying, necessitating unique value propositions to attract global businesses looking for complementary locales for expansion.

To delve into the readiness of Asian economies to capture new manufacturing opportunities, the Asia Business Council developed an Asia Manufacturing Diversification Index. The Index evaluates the attractiveness of ten emerging Asian economies alongside China as integral players within the modern manufacturing value chains.

The report aims to illuminate the path for businesses striving to navigate new trade dynamics effectively. It provides recommendations and case studies on how countries can improve their competitiveness to attract corporate investment and unlock fresh opportunities for economic growth in a rapidly changing and increasingly digital economic landscape.