China’s status as the global darling for foreign investment and trade is facing some competition these days from Southeast Asian nations that, while small, are forming an increasingly important economic bloc. Though the 10-member Association of Southeast Asian Nations, or ASEAN, comprises a market of 610 million people — less than half the size of China’s — the bloc’s more affluent consumers are looking increasingly attractive, especially to Japanese companies wary of risks stemming from escalating territorial disputes with Beijing.
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