A presentation on the results from The Economist Corporate Network's annual Asia Business Outlook Survey. This presentation summarizes our surveyed opinions of Asia-based executives, addressing such topics as: + What are executive expectations for Asian markets in 2018 and beyond? + How do executives view the effectiveness of Asian governments in their varying responses to political and economic risks? + How are Asian economies positioned in a time of profound technology disruption? + Where do executives see growth and decline? + How are their companies investing? + How do Asian labour markets measure up? + Which Asian cities are attracting and deflecting regional headquarters operations? + These and related topics are addressed in the report.

1. !"#$"#%&'('&)"#*+!",!"#$"#%&'('&)"#*+!",
!"#$%&'("$))
-.#'!&"#
/%(0%#123456
*+,-
./01'23/04$//'53&6""7

2. !"#$"#%&'('&)"#*+!", --
-./01!",$%(213%!*4#"5(671
!"#$%&'"#()""%*'+,--.%/'01)2%3456
7$0+#8#9$(+"
8 -/91
':'!5&;<'71
75#<'2'6
:-8$+#-("
8 =%(1>7;%
;<"
8 ?9@1
A'7&'#(1
BCD7
=)1)(')"
8 E.@F1
GHI/J/.3(
8 K.@F1
GHI/.3(L

3. !"#$"#%&'('&)"#*+!", --
./0123'!&"#%42!"5'#%6'
!"#$%&'"#()""%*'+,--.%/'01)2%3456
7-"+%0)80)")(+)9%
:;4+<%8)0=)(+#,)>%
")=+-0"
7 89(%(!9%42
3'#59!'3:20;<
7 ="(3>,'#:20?<
7 @#"A'339"(%42
3'#59!'3:200<
7 BCD2E"A&)%#':20/<
7 F%(>A%!&>#9(6:2
G<
7 C#%(3$"#&D2
4"693&9!3:2;<
7 @#"$'#&HD2
!"(3&#>!&9"(:2;<

4. !"#$"#%&'('&)"#*+!", --
."/(!/0'12)/&32451/%213/6&172"!!8##/(92/(29:";%:2#'<'(8'1=2/(081&#/%:2&'!3(":"9>
?@A2"6218#<'>'02'B'!8&/<'123%<'2/,$#"<'02'B$'!&%&/"(126"#2#'<'(8'29#")&3
!"#$%$&%'(#'()'(**+#$%,'-$.-

5. !"#$"#%&'('&)"#*+!", --
!"#$%&'()*+%
,-.
. /(!'0%1%2(304"5&67
'%8&0982%30:62(%30%(;0
<(;2%0&"$0"='#%>>0
1#")&60'?$'!&%&2"(8
. :",$%#';0&"0&6'0@ABC0
85#='D30:62(%0';1'80
"5&0<(;2%0E"#0&6'0
8'!"(;7,"8&06216>D0
#%&';01#")&608$"&
. F"(10G"(1HI%!%5J0
>")'8&0$'#!'(&%1'0
K-LMN0%(&2!2$%&2(10
1#")&6
. 4"5&60G"#'%J06216'8&0
$'#!'(&%1'0KO+PMN0
'?$'!&2(10;'!>2('0

6. !"#$"#%&'('&)"#*+!", --
./0(%1&"$12"#1/03/45'6'513#")&/
7#")&/15'6'581#%(3'1)09'5:
!"#$"%&'()*''+)
; ./0(%<1%5,"8&1/%521"21
'='!>&06'81'=$'!&13#")&/1
%?"6'1@AB
('%#5:1"('1202&/1'=$'!&1
3#")&/1%?"6'1CAB
; D(90%E1F">&/4'%8&1G80%1%503('91
)0&/1"6'#1"('4&/0#91'=$'!&0(31
/03/13#")&/
; D(90%1,0='91"!&%('<1/03/1
3#")&/1'=$'!&'91?>&1%58"1
%,"(31H&"$1&/#''I12"#1
'=$'!&'919'!50(0(318%5'8
; F&'%9:48&%&'8<1J"(31K"(3E1
L%$%(15'%912"#1'=$'!&%&0"(81"21
3#")&/1/"590(318&'%9:

7. !"#$"#%&'('&)"#*+!", --
!"#$%&
'(#")*##
.'/$"(0'(&/12'/&3,%&'2
"425"6'#(,'(&2#'/$"(/'2
&"2#3/*/273*'7823,$%!&2"(2
9:/3('//23(2;<=>
? @(03%A2BC3(%A2D3'&(%,A2
E3(5%$"#'A2F%$%(G2
H<IJ263')24%6":#%978
? BC3(%G2('%#782H<I2
63')2('5%&36'78
? K8%(,%#A2K%7%8/3%A2
E":&C2L"#'%A2M"(52
L"(52%,"(527'%0'#/2
4"#2N('&O2$""#2
%//'//,'(&/22

8. !"#$"#%&'('&)"#*+!", --
!"#$%&'"(
)*&*"'
.'/$"(0'(&/12'/&3,%&'2
"42#3/*2#'/$"(/'253*'562
3,$%!&2"(278/3('//92
:;<-=:;
> ?"/&2'!"(",3'/2
%&&#%!&2('&2$"/3&3@'2
@3')/
> A3'&(%,B2C3DC'/&2('&2
$"/3&3@'2@3')/
> ?6%(,%#B27%5%(!'02
EF= "@'#%552
%//'//,'(&2G78&2/&3552
&"$24"#2H/3D(343!%(&2
)"#/'(3(DIJ

9. !"#$"#%&'('&)"#*+!", --
./012"32'4'!5&67'82%(&6!6$%&'25$2&"29/02"32:;"<%;2#'7'(5'823#",2=86%2<>2?/??
@%#:'8&2$#"$"#&6"(2'4$'!&2=86%A82!"(&#6<5&6"(2%&2BCDBE0
F"&%<;'28G63&26(2'4$'!&%&6"(23"#2,"#'2:;"<%;2#'7'(5'82!",6(:23#",2=86%
!"#$%&'()*

10. !"#$"#%&'('&)"#*+!", -.-.
/01(%234(51%3("&%67839%&&'#3$#"91&3,%#:1(;<3!"#$%&"#$%#"'()*+%,-.//0/1
=#'(531(3'>$'!&%&1"(;39"#3,"#'3$#"91&;23#'5?!'537";;';3@.-A
2(34#$%4'%4#

11. !"#$"#%&'('&)"#*+!", ----
.(/0%12340(%52'6$'!&%&0"(72("&%89:2&""28;99074<2=>?=@52%9,"7&2'A;%99:2&""28;99074B8'%#074
C0D4BD#")&42'!"(",0'72%97"2D'('#%&'2CE2'6$'!&%&0"(720D("#0(D29"!%92#'%90&0'72
!"#$%#%$&'()'*+,+#-%.

12. !"#$"#%&'('&)"#*+!", -.-.
/0123(242!%(&0"('0&52#60%71"01''0&5'02(8'1&,'(&0#%&'0%10"440
9"1&0':'!;&28'101''0&5'2#0!",$%(2'102(8'1&2(30&"01;$$"#&03#")&5
!""#$%&'#()"'*$+,'-./")+$0"1

13. !"#$"#%&'('&)"#*+!", -.-.
!"#$%&'($'
($)&*+,&$+
/0$'!&%&1"(234"#3!5%(6'31(3
1(7'2&,'(&31(389-:
; <51(%=3,%2217'>?3>'%@23
)1&53'0$'!&%&1"(23&"3
%&&#%!&3,"#'31(7'2&,'(&3
A%>&5"B653%3@#"$3"7'#3>%2&3
?'%#C23>'7'>3"431(!#'%2'D
; E(@1%F3E(@"('21%F3
G1'&(%,F3H1(6%$"#'=3%>2"3
5165>?34%7"B#'@ &%#6'&2
; I?%(,%#=3,"2&325B(('@
; J%1)%(F3K51>1$$1('2=3,"#'3
%7"1@1(63&5%(31(7'2&1(6

14. !"#$"#%&'('&)"#*+!", -.-.
/0'#1"('123%#&'#1"41'5'!3&60'71'5$'!&1!8%(9'71&"1:'1;,%<"#=
!"#$%&"'()*$+%,-.,/$*01%$,/20(3(1*/"3%*&."/$%*0%4#*"%56)*01%789:
;,/20(<4#*"

15. !"#$"#%&'('&)"#*+!", -.-.
/0#1"023$%#%44'4532%,'3$'#!'(&%6'3788+89:3;1')3%23<=%#3%>'%?@3%(?3<2",')>%&3A'>1(?@
B,%443,%C"#1&D3"=3'E'!0&1;'232''31(?02&#1'231(3F21%3%23&'!>("4"61!%44D3%>'%?3
!"#$%&'#()*#+,-$.%*'&+*/,01

16. !"#$"#%&'('&)"#*+!", -.-.
/0(1%$"#'234%$%(23/"5&637"#'%23%(839"(137"(13#"5(83"5&3:0;'3,"<&3!0&'83&'!63='%8'#<
>=,"<&3?@A3;0')3B60(%3%<3&6'3><0%(3&'!6("="1C3='%8'#30(3&6'0#30(85<&#C
!"#$%&%'()*#$+$,%

17. !"#$"#%&'('&)"#*+!", -.-.
/01232241&5'1$'#!'(&%6'1)7881'9!'':1;3<
=>?&1>(:'#15%8@1"@1#'?$"(:'(&?17(:7!%&'1%&18'%?&1"(1A"%#:1,',A'#17(1B?7%
!"#$%&$'($')'*+#+,"*

18. !"#$"#%&'('&)"#*+!", -.-.
/01234"3("&3'5$'!&3"('3673818893:'',;(<=73">&3"?3:7(!@3);&@3<#")&@A3;(4>:&#73!@%(<'
BC'#3@%=?3"?3#':$"(4'(&:3;(4;!%&'3%&3='%:&3"('36>:;('::3>(;&3@'%43;(3D:;%
!"#$%&##'"%$(')&*+&,#-$.

19. !"#$"#%&'('&)"#*+!", -.-.
/0%(10%234/2(1%$"#'4&"$41%2('#5647'282(1349':024&"$4;'!:2('#54%54#'12"(%:40<=5
!"#$%&'()*+*+,)-)..

20. !"#$"#%&'('&)"#*+!", -.-.
/%!&"#012%#341'2'(15%2"6#%783 29')':1!9&9'010655'#15#",1$#"$'#&3;18%7"6# !"0&0
!"#$%&$'(%')"#*"

21. !"#$"#%&'('&)"#*+!", -.-.
/%&0#'1'!"(",2'314'3313&%54'61','#72(71'!"(",2'31,"#'13&%54'12(1',$4"8''1!90#(
:",$%#';1&"1$#'<2"03130#<'83613&%==1&0#("<'#14'<'431%#'1!"(<'#72(7
!"#$%&"'()*)+,-+$'(.'

22. !"#$"#%&'('&)"#*+!",
-./0'.1!"(",23&.4567+./0'3'.,%&'#2%83.%(9.&0'2#.!"(&'(&3.%#'.!"(:29'(&2%8.%(9.&0'.';!8<32='.$#"$'#&>.":./0'.1!"(",23&.?')3$%$'#.@2,2&'9+./0'2#.<(%<&0"#2A'9.#'$#"9<!&2"(."#.9233',2(%&2"(.&".%(>.$%#&>.
"&0'#.&0%(.&0'."#2B2(%8.#'!2$2'(&C3D.23.$#"02E2&'9+./0'3'.,%&'#2%83.%#'.$#"=29'9.:"#.2(:"#,%&2"(."(8>.%(9.30%88.("&.E'.!"(3&#<'9 %3.%(."::'#."#.%(>.:"#,.":.!"(&#%!&<%8.!",,2&,'(&.E>./0'.1!"(",23&.
?')3$%$'#.@2,2&'9."#.%(>.":.2&3.3<E3292%#2'3."#.%::282%&'3+./0'."$$"#&<(2&2'3.9'3!#2E'9.0'#'2(.%#'.3<EF'!&.&".!0%(B'.%(9.'92&"#2%8.%$$#"=%8+.
!"#$%&'("$))
G2#'!&"#
/0'.1!"(",23&.H"#$"#%&'.?'&)"#*
)))+82(*'92(+!",I2(I#"E'#&)*"'$$