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, 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 Slow-Burning Financial Crisis Worsens Amid Persistent Overcapacity

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

China Economics: Refusal to Cut Rates Suggests Painful Tradeoffs

China: Capital Flight Limits Easier Money Amid Spreading Crisis in Property Markets

China’s State Capitalism Created Real Estate Excesses and Limits Remedial Options to Reduce Stress

China: Financial Crisis Looms as Tighter Global Liquidity Limits Easing Options

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>Like the US banks confronted dual crises in 1990 (Latin American debt, domestic S&amp;Ls), Chinese banks face a crisis of overlending to 50+ frontier markets, compounding the domestic property crisis. </li>
<li>Just as US banks were the main lenders to Mexico until its Aug'1982 default, recent defaulters (Zambia, SriLanka) are heavily indebted to China. The property crisis already burdens China's banks.</li>
<li>Dearth of macroeconomic expertise in the PBSC is alarming at a time when foreign reserves are down US$200bn YTD, despite YTD trade surplus of US$742bn. Dampened credit growth precludes evergreening. </li>
</ul>


Like the US banks confronted dual crises in 1990 (Latin American debt, domestic S&amp;Ls), Chinese banks face a crisis of overlending to 50+ frontier markets, compounding the domestic property crisis. 
Just as US banks were the main lenders to Mexico until its Aug'1982 default, recent defaulters (Zambia, SriLanka) are heavily indebted to China. The property crisis already burdens China's banks.
Dearth of macroeconomic expertise in the PBSC is alarming at a time when foreign reserves are down US$200bn YTD, despite YTD trade surplus of US$742bn. Dampened credit growth precludes evergreening. 


China's Twin Crises: Overlending to Frontier Markets & Domestic Property Sector