Nikkei Asian Review
Trade war forces multinationals in Asia to hold back on investing
The U.S.-China trade war has affected the business strategies of 68% of multinational companies operating in Asia, according to a recent survey. Despite the gloom, many companies are of the view that the trade war helps make Southeast Asia an attractive alternative to China. Investment in the region remains active, as companies anticipate high economic growth. Facebook is an example. It recently decided to build a 1.4 billion Singapore dollar ($1.02 billion) data center in Singapore. The survey was conducted by Blackbox Research for the American Chamber of Commerce in Singapore. Of the 179 chamber members that responded to the survey, 63% are based in the United States and over 90% are multinationals operating in Southeast Asia and the Asia-Pacific region. For more on this story, click here.