Call it the “Asian spring”. China and Vietnam are engaged in a dangerous stand-off in the South China Sea. Chinese ships are routinely harassing Philippine boats as Manila takes Beijing to an international court. The Thai army has declared martial law in what some view as a “soft coup”, and, not to be outdone, Kim Jong Un, the North Korean leader, is making noises about a nuclear test.

The fact that the Senkaku – islands in the East China Sea controlled by Japan but claimed by China, which calls them the Diaoyu – have faded from the news shows how complex the security environment has become in Asia. For much of 2013 they were seen as the most likely flashpoint in the region, as Chinese ships and jets tested the resolve of their Japanese counterparts.

While the geopolitical tensions are challenging governments, they are also creating problems for multinationals that rely on Asian countries to produce everything from Mickey Mouse T-shirts to iPads to Adidas sneakers.