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

What Will China’s On-Going Liquidity Squeeze Mean For World Markets in 2022?

Cybersecurity/ Evergrande/ Covid/ Environment/ Hong Kong

China: Succumbing to Excess Capacity in Industry and Real-Estate, & Capital Flight

China Premium: Expropriation Risk Needs to Be Priced in to Privately-Owned Companies

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 has expanded 5-fold since Aug2008, while the US's M2 has expanded just 2.5-fold. Yet China cut RRR by 100bp this year, and lowered its LPR too. </li>
<li>In May-Nov2021, FAI (fixed asset investment) <em>declined</em> by an average of 3.2% YoY. Retail sales decelerated from 24% YoY growth in 1H21, to 5.1%YoY in 3Q21 and 4.4%YoY in Oct-Nov21. </li>
<li>Booming external trade took the trade surplus to a record US$595bn in Jan-Nov21, but foreign reserves were up by just US$5bn. Capital flight constrains the ability to ease more. </li>
</ul>


China's M2 has expanded 5-fold since Aug2008, while the US's M2 has expanded just 2.5-fold. Yet China cut RRR by 100bp this year, and lowered its LPR too. 
In May-Nov2021, FAI (fixed asset investment) declined by an average of 3.2% YoY. Retail sales decelerated from 24% YoY growth in 1H21, to 5.1%YoY in 3Q21 and 4.4%YoY in Oct-Nov21. 
Booming external trade took the trade surplus to a record US$595bn in Jan-Nov21, but foreign reserves were up by just US$5bn. Capital flight constrains the ability to ease more. 


China's Monetary Easing Will Do Little to Counter a Structural Slowdown