Economics Fellowship 2022 | ASEAN Study
As China’s strong growth phase ends, we expect India and ASEAN to be the regions showing the most robust growth in steel demand in the coming decades. The ASEAN possesses a strong potential for steel demand growth deriving from its young and competitive labour force, geographic location, openness to trade, ability to implement reforms, and favourable investment climate. Indeed, steel demand in ASEAN consistently outperformed the world average by growing at an average rate of 5% in the past four decades.
However, the region is comprised of highly diverse countries with different stages of development and growth potential. Therefore, we need to examine each country’s steel-using sectors’ growth potential in order to evaluate the whole region’s steel demand potential. Further, the region’s supply side has, in recent years, seen rapid development. There is a need to understand the resulting implication for the region’s steel industry landscape, raw materials availability, and sustainability.
Three fellows from Baowu Group, China Steel Corporation and Tata Steel have worked hard to present a complete and comprehensive picture of the ASEAN economy and steel industry development addressing the following questions:
- What are the key features of the ASEAN economy?
- What is the status and potential for steel-using sectors in the ASEAN countries?
- Which ASEAN countries have the strongest potential for steel demand growth?
- How is the supply side landscape in ASEAN evolving?
- Will the growth be sustained in the long run?