South Korea’s economy was one of the best-performing economies this year. Its GDP grew 1.9% quarter-on-quarter in the third quarter. ISEAS academic Victor Teo observes that with its considerable soft power and economic weight, South Korea is well-positioned to become a more important power for Southeast Asia and ASEAN.
In this geostrategic climate, Southeast Asian countries should welcome rather than reject investments from China for their own developmental needs. Welcoming Chinese investment will also likely spur competing investments from the West and Japan.
When asked in a recent interview to comment on the joint push for a "free and open Indo-Pacific" and whether it was realistic to formalise such an institution, former US Deputy Secretary of State Richard Armitage said he would like a coalition in the Asia-Pacific and the Indo-Pacific but not a coalition against something. His view is markedly different from that of many Trump officials, and is similar to that of Japan and many countries in Southeast Asia.