Global Trade Dynamics - S&P Global indicates that the shift towards South-South trade could reshape the global commercial order, with China's multinational corporations playing a pivotal role [1] - Over the past decade, China's exports to Southeast Asia, Latin America, and the Middle East have doubled [1] - In contrast, China's exports to the US increased by 28%, and to Western Europe by 58% during the same period [1] - The trend of increased South-South trade has accelerated in the five years since the beginning of Trump's first term [1] Regional Trade Integration - Trade integration between Southeast Asia and China is rapidly increasing [1] - Direct investment from China into Southeast Asia is on the rise [1]