As a result of US trade tariffs ‘ impact on the global auto industry, Japanese automaker Honda Motor predicted a 70 % decline in net profit for the 2025-26 financial year on Tuesday ( May 13 ). The announcement comes after foe Toyota, the top-selling car manufacturer in the world,Continue Reading
The BIOARMOR Team from the QuestX Incubator, which includes Dwi Emas, Sri Emas, and MITstem International Schools in Kuala Lumpur, has become the first high school staff from Malaysia and Southeast Asia to qualify as a finalist in the exclusive US$ 121 million XPRIZE Healthspan Challenge, in a historical moment.
By developing drugs that recover muscle, mental, and immune function, this global competition, which is touted as one of the most optimistic science prizes always launched, aims to significantly extend healthy human lifespans, enabling people to lead longer, healthier lives.
The BIOARMOR Team established itself among the best universities, research organizations, and biotech companies around the world, demonstrating that Malaysia’s young people can excel and compete on a global scale.
” We’re delighted to be Malaysia’s and Southeast Asia’s first high school team to reach this step,” said the team. It demonstrates what young minds may achieve when they are given the chance to set great ideas, work hard, and work hard in real-world science, according to team leader Danny Kim.
The QuestX Incubator, a system that empowers high school students to handle real-world STEM challenges through hands-on research, world coaching, and innovative thinking, is where the team’s journey began. Their development has been greatly praised by SpaceQuest Asia, a young, innovative program run by Indonesian security firm CyberArmour Sdn. Bhd. The Asia School of Business ( ASB ) also expressed its sincere gratitude to the team for their early support and belief in their potential.
For our kids, SpaceQuest has changed the game. They acclaim young creativity like no one else in Malaysia. We’re even very appreciative of ASB supporting us right away,” Kim continued.
The staff is still focused on developing their medical solution as the QuestX Incubator continues its multi-year trip in the XPRIZE Healthspan Challenge with a strong goal: to redefine ageing as a longer life that is healthier, more vibrant, and full of potential as the QuestX Incubator continues its multi-year trip in the XPRIZE Healthspan Challenge.
This article was originally published by Pacific Forum. It is republished with permission.
The 21st century global economy is increasingly shaped by two defining pillars of national power: financial dominance and industrial capacity.
On the one hand, the United States maintains an enduring edge in global finance, with the US dollar still entrenched as the world’s reserve currency and American capital markets unrivaled in scale and liquidity. On the other, China has emerged as the world’s manufacturing powerhouse, anchoring global supply chains and asserting influence through its industrial footprint.
As economic competition intensifies between Washington and Beijing, the US must recognize that preserving its strategic edge requires more than just financial leverage. It demands an ambitious and coherent industrial strategy.
In recent years, US policymakers have responded to China’s industrial rise with a series of reactive measures: tariffs, export controls and investment restrictions. While these tools may address short-term imbalances or national security risks, they do little to resolve the foundational challenges eroding America’s manufacturing base.
Without tackling these core issues – a shrinking skilled workforce, outdated infrastructure, and brittle supply chains – America’s efforts to restore production and reduce dependency on China will falter.
Moreover, these temporary policy instruments signal inconsistency. From Beijing’s perspective, a coherent and sustained US industrial strategy poses a greater long-term challenge than ad hoc trade barriers.
China has long anticipated an American pivot toward rebuilding domestic capabilities, which is why it has redoubled efforts to internationalize the renminbi (RMB) and invest in technology self-sufficiency through programs like “Made in China 2025” and the dual circulation strategy.
The landscape of high-tech manufacturing illustrates the complexity of this rivalry. Taiwanese-owned factories play an outsized role in this arena, particularly in sectors such as semiconductors and electronics.
Taiwan Semiconductor Manufacturing Company (TSMC), for example, produces over 90% of the world’s most advanced chips and has long operated major fabrication plants in mainland China. However, geopolitical tensions and supply chain disruptions have spurred a geographic recalibration. In March, TSMC announced it intended to boost its US investments to $165 billion.
Similarly, other Taiwanese firms like Foxconn have begun diversifying away from the mainland China, exploring sites in Southeast Asia and North America.
This migration is driven not only by strategic hedging, but by rising concerns over operational risk. Beijing’s increasingly assertive stance toward Taiwan – underscored by military drills, trade coercion and political pressure – has fueled public resentment in Taiwan and hardened resolve there to chart an independent economic path.
For Taiwanese firms, this volatile political environment adds yet another layer of complexity to already fraught supply chain decisions. It also sharpens the urgency for Washington to work more closely with Taipei and other democratic partners to ensure the stability and resilience of high-tech industries.
These shifts also carry implications for US industrial policy. Facilitating the relocation and expansion of trusted foreign manufacturers requires proactive support – from tax incentives and streamlined permitting to workforce training and secure energy supplies.
If the US succeeds in anchoring key players like TSMC and Foxconn within its industrial ecosystem, it will not only reduce strategic vulnerabilities but also catalyze domestic innovation and regional development.
In Arizona, for instance, state-level coordination with federal programs has been critical in advancing TSMC’s investments. Similar efforts are underway in Ohio, New York, and Texas to attract semiconductor and battery manufacturers.
Local governments must be empowered with tools like workforce development grants and infrastructure bonds to prepare regions for high-tech industries. Regional partnerships with universities and technical colleges should also be expanded to create talent pipelines aligned with industry needs.
Internationally, the US should deepen industrial cooperation with regional allies.
Additional policy recommendations include:
For Washington, a credible industrial strategy must begin with a clear sense of national purpose: not simply to compete with China, but to rebuild a resilient, inclusive, and future-ready economy. The goal is not isolationism but strategic interdependence – reducing vulnerability while fostering trusted economic ties with allies and partners.
To do this, the United States must make sustained investments in three critical areas:
Policy must be coupled with strategy. This includes:
Importantly, the US does not need to emulate China’s model of state-led capitalism. American strengths lie in decentralized innovation, private sector dynamism and democratic accountability. But the government must set the direction and provide the stability needed for industrial renewal to take root.
Global allies are watching. Many share America’s concerns about economic overdependence on China. A credible US industrial strategy could serve as the foundation for a broader coalition to promote economic security and democratic resilience.
Ultimately, America’s long-term economic influence will rest not on the power of the dollar alone, but on its ability to produce, innovate and lead by example. The world is entering an era in which economic power will increasingly shape geopolitical outcomes. If the US seeks to preserve its leadership in this new era, then rebuilding its industrial base must be treated not as an option, but as a strategic imperative.
This does not require the US to mimic China’s model of state-driven capitalism, but it does require clear direction and sustained investment. Otherwise, America risks remaining reliant on foreign supply chains and vulnerable to external shocks – as was made evident during the Covid-19 pandemic.
The goal should not be isolationism, but strategic interdependence: building domestic strength while engaging with allies to construct a more resilient and balanced global economic order. Only with such a vision can the US maintain its influence in a world where economic power increasingly shapes geopolitical realities.
Yujing Shentu PhD ([email protected]) is an independent scholar and writer focused on digital politics, international political economy and US-China strategic competition. She has a background in policy analysis and economic strategy.
A critical wait in a business battle that is straining global supply chains and testing the compassion of capital industry has come to an agreement between the US and China to quickly lower taxes for the next 90 days.  ,
The deal, which was signed in Geneva, Switzerland, reduces Chinese import duties from 125 % to 10 % and reduces US tariffs from 145 % to 30 %.  ,
The arrangement now has a significant impact on Asian markets, currencies, and sentiment, despite its length and uncertain results.
Producers, semiconductor manufacturers, and industrials led the rally in Eastern equities in the immediate aftermath. Hong Kong’s Hang Seng Tech Index closed with the biggest gain in two weeks, up 5.2 %.
Foreign exchange markets might get the best place to react. On a trade-weighted base, the penny had its best moment in over a month, but the big issue for future Derivatives markets is whether the injury to the greenback’s long-term position has already been done.
The original market reaction today was undoubtedly positive in terms of the dollar, but it also showed that stretched short positioning was being broken, according to Bloomberg. Prior to today’s news, the Taiwan dollars surged and increased by more than 8 % against the dollar this year, and some other Asian economies followed suit.  ,
This is a shift in positioning, not only sound or temporary rebalancing. Two important factors are at play in the current strength of Asian assets. First, a structural one: lower taxes lower the inflationary pressure on imported goods, giving central banks in emerging Asia more room to breathe.  ,
Countries like India, the Philippines, and Indonesia, which previously had to walk a tightrope between rate increases and growth support, now have a little more room to give local issues a prioritization over exterior risk defense.
Next, and most important, is the movement of money. Asian businesses will be repurchasing gains from overseas. Out of overbought money deals are stock money and property managers resuming their positions.  ,
Businesses in Japan are using the option to lock in more advantageous terms after months of uncertainty as desire for money hedging tools increases. The industry has begun to price option instead of just risk.
What has changed is not that investors have a sudden belief in a US-China peace. It indicates that the persistent assumption of additional decline has stopped. A slight directional shift frequently leads to a more significant response than a trend continuation in the financial markets.
The defining financial threat of the past six months has been the trade war. Asia has not only been truly exposed, but it has also consistently been sensitive due to its complicated production ecosystems and deep trade links.  ,
All of Taiwan’s factories are part of multi-step supply chains that depend on predictability, including North Korean exporters of electronics, Chinese machinery companies, and Asian assemblers. Taxes didn’t just put costs; they also added immobility.
Some of that paralysis did finally subside. Companies can now start making decisions afterwards regarding purchasing, hiring, shipments, and capital costs with a 90-day windows of reduced tariffs.  ,
Lenders in the region will likely experience renewed interest from business owners in restarting earlier postponed investment programs. There will be nearly immediate signs of renewed planning task in Southeast Asia, where some businesses had delayed cross-border expansions according to price doubt.
This rise in action will be further bolstered by the US dollar’s weakening. This time will not be the same as a weaker dollar does, which is normally how flows into emerging markets are amplified.  ,
Money loan is less expensive to support and less costly to service. Dollar-priced goods increase in value. Additionally, Asian sovereign bonds and securities, which had been priced competitively, are seeing once more hesitant inflows.
However, it would be harmful to misinterpret this shift in tone with a real end to US-China conflicts. The scope of the Geneva deal is constrained, and it was intended to be transitory. It lacks a law enforcement device, and its base is delicate.  ,
President Trump’s comments following the agreement, which suggested an “80 % price” might be appropriate “next moment,” underscore how smooth the situation is. However, this does indicate that the country’s two largest economy are under siege.  ,
The US is addressing voting apprehensions over stagnant economic growth and consumer prices. China is attempting to re-anchor investor confidence and regulate business activity. Both parties can’t purchase a completely tense business relationship right now, at least not at this time.
That shared barrier is what gives the ceasefire its momentary pounds. It’s enough to knock the marketplaces out of battle method. It’s enough to give Asia’s policymakers a place to transition away from response and toward strategy. And it’s enough to cause traders to reevaluate their investment decisions in Asia.
Some of the world’s most successful export-driven countries, powerful consumer markets, and quick-changing tech players still reside in Asia. By introducing additional threat, the tariff battle obscured that strength. Just enough of the fog is removed by the truce to re-establish the local case.
Also, dangers persist. A collapse in talks, a change in Washington’s social climate, or new measures that target technology or the capital markets was quickly derail optimism. If the detente proves brief, investors who rush in unhedged or overweight may find themselves going off the rails.
Given today’s rise in capital markets and strengthening assets, Asia is expected to restore its standing for the time being.
BEIJING: China said on Saturday ( May 10 ) that consumer prices slumped in April for the third straight month, reflecting persistent challenges as leaders attempt to revive an economy stymied by sluggish spending and a fierce trade war with Washington. The nation’s second-largest market has grappled with continual negativeContinue Reading
Local nations are also holding their breath on a stability before. A good strategy would be to use the” Free and Open Indo-Pacific” strategy to persuade US allies and partners to support concepts like freedom of movement and no recourse to push as an implicit barrier against China if Mr. Trump may live tax negotiations with Southeast Asian nations.
Trump 2.0 appears to be heading in the right direction for the time being. Secretary of State Marco Rubio supported this approach during his first meeting with Rear leaders in January. Secretary of Defense Pete Hegseth emphasized that America First does not equate to America Only during his first visit to Japan and the Philippines in March.
However, it is impossible to guarantee a standard US strategy for regional security. The US is feared for reducing its forward-deployed position by lowering its allies and partners and causing more of the defense burden.  ,
No question there is talk about Southeast Asian nations boosting security cooperation with Quad places without the US, and there has also been a resurrected debate about South Korea and Japan breaking the ban on nuclear weapons.
Southeast Asian nations still have the authority to graph their own lines as the US-led earth buy deteriorates in a unipolar world order.
William Choong is the managing director of Fulcrum, the institution’s criticism and study web for Southeast Asia, and a Top Fellow at the ISEAS-Yusof Ishak Institute.
The ASEAN Studies Center, ISEAS-Yusof Ishak Institute, and Sharon Seah are Older Fellows and Coordinaters.
Oversea-Chinese Banking Corp ( OCBC ), the second-largest bank in Singapore, maintained 2025 guidance and set aside credit allowances, citing a challenging economic outlook after posting a 5 % decline in first-quarter net profit that exceeded expectations on Friday ( May 9 ). According to OCBC’s Group Chief Executive HelenContinue Reading
SINGAPORE: Singapore’s biggest banks, DBS Group, boosted its general income deposits amid heightened economic and political uncertainty on Thursday ( May 8 ) after posting a 2 per share year-on-year cut in first-quarter net income, which beat expectations. ” New escalations in trade conflicts have heightened economic challenges and businessContinue Reading
Indonesia faces similar issues.
About a-fifth of the population in the vast archipelago lacks adequate internet access, according to the Indonesian Internet Service Providers Association.
But while the Indonesian government welcomed Starlink to the country and granted business licences in May last year, analysts say it remains wary about allowing the company to fill the gaps.
It is currently unclear how many Starlink devices are operational in Indonesia and the company’s initial investment was modest at US$1.8 million.
Still, with Musk in attendance, Starlink launched with fanfare in Bali with a project to connect medical centres to fast internet service. In at least one centre though, the service was disabled shortly after due to an apparent unstable connection.
There is pressure from traditional telecom companies on the government to ensure the playing field is even after decades of investing in an infrastructure network that could be made redundant by Musk’s satellites, said Karl Gading Sayudha, an analyst who focuses on defence, security and international relations at Kiroyan Partners, a Jakarta-based consulting firm.
“These telecommunication providers have invested billions of rupiah. So they are questioning the government’s effort and government’s responsibility to make sure that this will be a fair game,” he said.
“They are asking for the government to regulate this before it goes too far.”
The Indonesian Internet Service Provider Association urged the government in the middle of last year to freeze Starlink’s licence, because it had “the potential to disrupt the sustainability and independence of the local ISP industry”, said its chairman, Muhammad Arif Angg.
Telkom, Indonesia’s state-owned telecom giant, and the Indonesian Telecommunications Providers Association have also called for a level playing field in terms of regulations.
Starlink “may appear aggressive” to these companies, causing them to feel insecure about how Starlink might expand, said Darynaufal Mulyaman, a lecturer at the International Relations Study Programme at Universitas Kristen Indonesia.
“Because on paper, it’s a really unbalanced competition,” he said, noting that Starlink has minimal local staffing and does not contribute to Indonesia’s territorial network infrastructure.
The cost of Starlink remains high, however, and this is an obstacle to widespread adoption. Its residential package starts at 750,000 rupiah (US$45) per month, putting it only within the grasp of higher income earners. That is about double the cost of a local operator, not including installation costs.
But as has occurred in other countries, the Starlink price could quickly drop as more users sign up.
It also has plans sometime this year to offer mobile plans, which if permitted, would put the company in direct competition with other telecom providers for a lucrative market of hundreds of millions of customers.
Its prices are far cheaper than other satellite internet providers, which prompted complaints from the Indonesia Satellite Association, which labelled Starlink’s offers “predatory”. The country’s anti-monopoly watchdog ruled last year that they were promotional, not unfair.
After the April assault in Pahalgam, scientist Iftekharul Basha from the S Rajaratnam School of International Studies wrote in a remark that India needs to take steps to ensure cultural unity and coexistence, as well as respect diversity.
He claimed that alienating American Muslims would only open the door for fanatics to take advantage of the situation.
By carefully examining and retaliating against criminal organizations operating within its borders, Pakistan also has a responsibility to take reliable steps to ensure regional peace and security, he added.  ,
He also cited the South Asian Association for Regional Cooperation ( SAARC ), a political and economic organization of the region, and how treaties under its umbrella, such as the Suppression of Terrorism Convention, have been “underused” due to a lack of enforcement and political will.  ,
The association may have intervened to lessen tensions following the April assault, but democratic rivalry had hampered its effectiveness.  ,
Mr. Basha stated that the SAARC might take lessons from its ASEAN and other areas like Southeast Asia.
In an examination for the Belfer Center for Science and International Affairs in Harvard University, past Pakistani national security adviser Moeed W. Yusuf said that while the wider international community may provide temporary relief, the general consensus is that the latter may not be so.
More sustained efforts must be made to push both sides toward normalizing their ties because the international community’s curiosity has been focused on problems management rather than crisis prevention, he wrote.  ,
Mr. Yusuf argued that dialogue between the two countries was the “only practical way forwards,” citing instances in which India and Pakistan had advanced in their relationship after engaging in heated exchanges.  ,
” The international community should find ways to promote India and Pakistan’s returning to the bargaining table with the intention to resolve all of their unresolved issues in a mutually beneficial and sustainable way,” he said.
The universe cannot allow this to happen because of the risk of increased conflicts in radioactive South Asia.