汇丰银行-东盟视角：打量“obor”的影响-20170529-hsbc.pdfVIP

29 May 2017   ASEAN Perspectives ECONOMICS ASEAN Sizing up the ‘OBOR’ impact  ASEAN is set to benefit from plans for nearly USD80bn of Chinese-funded projects under the “One Belt, One Road” Joseph Incalcaterra Economist The Hongkong and Shanghai Banking Corporation Limited  If the majority of projects materialize, they could have a sizeable Joseph.f.incalcaterra@.hk +852 2822 4687 impact on growth in Malaysia, the Philippines, and Indonesia… Maitreyi Das  Investment flows will support the BoP, but this masks a Associate Bangalore deterioration in current accounts due to capital goods imports In terms of China’s relationship with ASEAN, it should be no surprise that economic linkages are blossoming on multiple fronts (think trade, investment, and tourism). The One Belt, One Road (OBOR) initiative adds yet another layer to this dynamic, which according to the plans, has the potential to alter the economic landscape of the region. OBOR generally refers to conflation of the “Silk Road Economic Belt”, which flows throug