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Asia gains limellght amid U.S.-China trade tension

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330 delegates from more than 12 countries across Asia and the are meeting in Kuala Lumpur examining the challenges of Asia for companies.

They are leading , , diplomatic and academic figures participating in the Asia Pacific Council of American Chambers of business at the Kuala Lumpur Convention Centre.

organiser and Executive Director of the American Malaysian Chamber of , Siobhan Das said: “The event demonstrates just how serious US business views its engagement with Asia.”

The President of the American Malaysian Chamber of Commerce Ramzi Toubassy, the host of the APCAC 2018 event, says ’s clear that despite current trade tensions between China and the , Asia is set to dominate the international in a matter of years.

“Asia’s share of global is expected to grow from 30% in 2016 to more than 50% by 2050.

“As we have said many times, Asia matters to the US and the US matters to Asia – the business and trade relationship is long-standing and an incredibly important one,” Mr Toubassy said.

One of the Summit’s key speakers, PwC Malaysia Managing Partner Sridharan Nair, said by 2050 China will be the ’s biggest economy, followed by India with Indonesia the ’s fourth-largest economy.

“Our projections indicate that Southeast Asia will continue to grow in importance given its strategic geographical location – it will serve as an economic platform for the Asia Pacific and the rest of the world,” said Nair.

Southeast Asia is already capturing high value-added US investments.  

While there’s been a 33% increase in , oil and extraction between 2010 and 2016, there has been an 84% increase in manufacturing and a 131% increase in services during the same period. 

The theme of this year’s summit is Charting a Bold : US Businesses in the Asian Century.

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