Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

PK Basu has 35 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 and Asia sector strategist 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: Still on the Edge of a Financial Precipice, Kept Afloat by US Distraction

China: Winning the Trade War While Still Imploding Domestically

China & HK: Rebuild Slows Amid Heavy Sector and Stock Rotation

CX Daily: China’s Export Machine Stalls Under Trump’s New Trade Blitz 

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

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

China Economics: Not Much Progress in Cyclical Recovery

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>TSF increased by a record RMB15.18trn (US$2.09trn) in Q12025, enabling industrial growth of 6.5%YoY, FAI growth of 4.2%YoY, retail sales growth of 4.6%YoY and real GDP growth of 5.4%YoY. </li>
<li>Slumping imports and 7.5%YoY growth in exports in Q1/2025 took the 12m-rolling trade surplus to US$1.08trn in Mar'25, but FX reserves declined slightly YoY, suggesting persistence of colossal capital flight.</li>
<li>Producer prices have deflated for 5 of the past 10 years, including all 30 latest months (-2.5%YoY Mar'25). Tariff barriers will prevent exporting overcapacity, thereby exacerbating deflation, hastening financial crises. </li>
</ul>


TSF increased by a record RMB15.18trn (US$2.09trn) in Q12025, enabling industrial growth of 6.5%YoY, FAI growth of 4.2%YoY, retail sales growth of 4.6%YoY and real GDP growth of 5.4%YoY. 
Slumping imports and 7.5%YoY growth in exports in Q1/2025 took the 12m-rolling trade surplus to US$1.08trn in Mar'25, but FX reserves declined slightly YoY, suggesting persistence of colossal capital flight.
Producer prices have deflated for 5 of the past 10 years, including all 30 latest months (-2.5%YoY Mar'25). Tariff barriers will prevent exporting overcapacity, thereby exacerbating deflation, hastening financial crises. 


Hang Seng China Enterprises Index (HSCEI INDEX)

中国：関税壁は資本逃避、デフレ、過剰生産能力の課題を悪化させる