Asia: Diversification strategies in Asia to become more prominent in 2024 / The China Plus One Strategy, initiated in 2013, aims to steer companies away from excessive reliance on China by diversifying their manufacturing and supply chain operations. Asian countries like Vietnam and India are emerging as robust alternatives to China. However, establishing a manufacturing presence in a new country is a prolonged process. As a result, forecasts suggest faster production growth in alternative regions by 2024, with major shifts expected post-2025. Container shipping companies are ramping up their services in Asia, unveiling new routes and expanding existing ones in the recent months. MSC, the world’s largest ocean freight carrier, has enhanced several Asian routes, focusing on stronger connections between China and Southeast Asian ports. AP Moller-Maersk has also unveiled plans to inject over $500 million into expanding its warehousing, air freight, and trucking operations across Southeast Asia in the next three years. (....)