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Friday, April 26, 2024

Southeast Asian economy gets lift from US-China tensions

Indonesia said that realised foreign direct investment jumped 13 per cent. PHOTO: AFP

JAKARTA — When the United States Commerce Department signaled in late 2019 it was leveling anti-dumping duties on Chinese-made bed frames, nightstands and other bedroom furniture, one Indonesian furniture maker saw an opening.

Integra Group of Sidoarjo, East Java, doubled down on expansion plans, bringing to nearly 500 billion rupiah (S$46 million) the amount it was spending over two years on equipment like wood veneer laser cutters, saws and computer-controlled routers that can etch patterns into a wooden panel within minutes.

Now, with Chinese-made furniture facing US countervailing duties of up to 200 per cent, Integra’s orders have ballooned.

During the first two months of the year, new and existing customers, including Swedish home…

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