The writer is senior economist for emerging Asia at Natixis Corporate & Investment BankingFrom Joe Biden to Xi Jinping, global leaders are being drawn to south-east Asia for three large international events: the G20 summit in Indonesia, the Asean meeting in Cambodia and the Apec gathering in Thailand.

Pressing global issues such as climate change and inflation are on the agenda but building ties to south-east Asia is in itself very much a prize for competing global superpowers and even middle ranking ones such as South Korea and Australia.

South-east Asia is the diplomatic and business friend that everyone needs. This is not just to diversify supply chains, but also to seek out growth opportunities as hurdles that range from tariffs to investment curbs affect business between the US and China. Investors should take note and follow suit.