Political developments have taken central stage over the past month. Election season is underway in India and Indonesia. Investors are optimistic that India’s election will bring about a positive change in policymaking, but similar hopes in Indonesia have been dampened by the poor performance in parliamentary elections of the party of the presidential frontrunner, Joko Widodo. The political crisis in Thailand shows no sign of nearing an end and is hurting the economy. Tensions could soon escalate again over pending court cases against the caretaker prime minister, Yingluck Shinawatra. Meanwhile, the focus of President Obama’s visit to the region this month has been on security issues, rather than economic ties. A deal on the proposed Trans-Pacific Partnership trade agreement still looks some way off.
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