Part 14/16:
Amidst these transformative events, ASEAN nations are actively seeking diversification strategies. Indonesia’s efforts include strengthening partnerships with the European Union and adhering to international trade standards like WTO. They recognize that overreliance on China or the U.S. could be perilous.
For example, Indonesia aims to leverage its rich reserves of critical minerals, like those in Lynas Corporation's processing plant, as bargaining chips in international trade discussions. Meanwhile, Malaysia, Thailand, and others are introducing tariffs and anti-dumping measures to protect their local industries amidst falling prices and surplus Chinese goods.