Trump Effect on Asia: Concern among APAC business leadersStaff Writer | January 22, 2017
The "Trump Effect on Asia" survey, which polled 141 APAC business leaders, found that the majority "expressed concern about the lasting impact of a Trump presidency."
141 APAC business leaders No plan in place for a Trump victory
Specifically, 29 percent of respondents expect Trump will have a long-term negative impact on APAC business profits, 19 percent are assessing their existing trade deals with the U.S., and 7 percent have cut budgets as a result of Trump’s victory, Harvey Nash said.
Up to 65 percent of the respondents had no plan in place for a Trump victory, 19 percent had prepared a business contingency plan, and only 9 percent were fully prepared, with both a response and plans to deal with the outcome, the survey found.
Meanwhile, 59 percent of respondents believe that trade and tariff negotiations will be affected by the Trump presidency, 49 percent foresee market instability, and 30 percent anticipate an economic slowdown in the region.
At the time of the survey, 71 percent of respondents believed Trump’s victory had not yet affected their business, 15 percent reported a negative impact, while 8 percent said it had a positive impact on business.
36 percent of respondents believe there will now be an increased focus on local leadership in APAC, while 35 percent foresee Asian nationals returning in greater numbers from the U.S., and 24 percent expect to see a slowdown in talent migration. ■