AMRO：2025年风险贸易：东盟+3面对美国关税上升的出口脆弱性报告（英文版）

The ASEAN+3 region’s long-standing export-led growth strategy is facing renewed headwinds. For decades, the region benefited substantially from globalization, leveraging trade openness, cost advantages and the United States as a key export market to enhance export competitiveness and drive economic development (AMRO 2020). While the US–China trade conflict that escalated in 2018 raised concerns about the durability of this model, some regional economies managed to benefit from the resulting t