Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

PK Basu has 34 years experience covering Asia's economies and markets (equities, fixed income and currencies), including 20 years covering the global economy. He was Chief Economist (SE Asia & India) at Credit Suisse First Boston for 5 years, and Chief Asia (x-Jpn) Economist at Daiwa Securities for a similar period. Among other roles, he was global head of research at Maybank Kim Eng, Malaysia equity research head and chief ASEAN economist at Macquarie, Chief Economist at ICICI Securities, ASEAN economist at UBS and the first chief economist at Khazanah Nasional (where he was co-head of research, and led all agri-business initiatives). PK Basu started his career in the Asia Service of WEFA (Wharton Econometrics) in Philadelphia in 1990, rising to be Director of their Asia Service in June 1994. 
PK's book, "Asia Reborn: A continent rises from the ravages of Colonialism and War to a New Dynamism" won the Tata Literature First Book Award (non-fiction) for 2018. It is the first single chronicle of the modern economic and political history of the whole of Asia (from Iraq and Turkey to Korea and Japan, and everything in between), told from an Asian perspective.

Chief Economist & Political Strategist

China's Growth Constrained by Crisis of Industrial & RE Over-Capacity

China - Weak data, the PBoC and the Third Plenum

China Economics: Not Much Progress in Cyclical Recovery

China Economics: Third Plenum Fails To Move The Dial Despite Growth Headwinds

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Macroeconomics

<ul>
<li>China's M2 (USD42.04trn) is double the size of US M2, having risen 10.4-fold in 18 years (far faster than the 3.1-fold increase in US M2 over that period). </li>
<li>Attempts at further monetary ease (RRR/rate cuts, QE) are futile, as they induce larger capital flight, and fail to rekindle credit demand amid PPI deflation and real-estate over-capacity. </li>
<li>RGDP growth is likely to weaken in H2CY24 as FAI and industrial growth flag, and retail sales stay sluggish. A larger trade surplus won't help, as FX reserves stagnate. </li>
</ul>


China's M2 (USD42.04trn) is double the size of US M2, having risen 10.4-fold in 18 years (far faster than the 3.1-fold increase in US M2 over that period). 
Attempts at further monetary ease (RRR/rate cuts, QE) are futile, as they induce larger capital flight, and fail to rekindle credit demand amid PPI deflation and real-estate over-capacity. 
RGDP growth is likely to weaken in H2CY24 as FAI and industrial growth flag, and retail sales stay sluggish. A larger trade surplus won't help, as FX reserves stagnate. 


Hang Seng China Enterprises Index (HSCEI INDEX)

China: Growth Inevitably Set to Flag as All Monetary Easing Proves Inefficacious