PwC's annual survey of more than 1,300 CEOs around the world has found that nearly 46 percent of ASEAN CEOs saying that global economic growth will decline. Globally, 29 percent of business leaders say the same. The increased pessimism colours their outlook for their own companies' business prospects. While slightly over a third of the 78 ASEAN CEOs surveyed described themselves as very confident about their organisation's growth prospects over the next 12 months, nearly half said they were "somewhat confident", and the remaining 15 percent said they were not confident. Trade conflicts topped the list of threats identified by ASEAN CEOs, with 83 percent citing this, followed by other threats such as geopolitical and policy uncertainty. To navigate the business risks and challenges highlighted, majority of the ASEAN CEOs surveyed said they are taking a strong reactive approach to the geopolitical shift through amending supply chains and sourcing strategies, delaying capital expenditure, and adjusting growth strategies to different countries.

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The Business Times