Investors from ASEAN to Southwest Asia are increasingly convinced that China is the only game in town for new ideas and major capital investment, way ahead on 5G and just about every technology. Moreover, the Chinese have not yet commercialized all their advances. That’s something even Singapore, the “capital of Asia”, has not been able to crack.
Despite a stronger emphasis on developing political and commercial ties with Asia-Pacific nations in recent years, Russia has largely focused on alignment with China and deepening relations with Japan, South Korea and India. The Kremlin has paid comparatively less attention to Southeast Asia, but there are signs that is now changing.
Kazakhstan’s president, Nursultan Nazarbayev, proposed to create an Asian organization for security and cooperation.
Russia, Iran, China, and now Turkey are in the same boat, as all have become the target of US sanctions. But none of those nations has bowed under the pressure.