While geopolitical tensions strain cooperation between China, Japan and South Korea, other Asian countries are experiencing rapid development in interconnected economies, trade and infrastructure. The Philippines has sustained an economic growth rate of 6 percent for eight years straight. In 2022, Vietnam witnessed a remarkable 8 percent GDP growth fueled by a surge in foreign direct investment, which also bolstered China’s exports to Vietnam by 28 percent from January to February. Central Asia anticipates a growth rate of 4.8 percent this year, the highest among world sub-regions. A memorandum signed in September 2022 between China, Uzbekistan and Kyrgyzstan is facilitating the construction of a cross-border railway. Foreigninvested factories in Bangladesh are empowering locals, particularly women. However, challenges such as under-educated workforces, inflation and regional tensions continue to cast uncertainty on the future trajectories of these nations.
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