We often read that, highly sought after for their location and potential, Southeast Asian (SEA) countries are maneuvering between two major powers, China and the United States, close to the former for economic reasons and to the latter for security reasons. The reality is more complex and nuanced, and increasingly so. SEANAP countries have sought to avoid taking sides, and their ability to derive the maximum benefit from their relationships has been one of the keys to their economic success and stability. In fact, they have been the major beneficiaries of the Sino-American rivalry thus far.

They have been able to capitalize on globalization and the ties they have forged with their two major partners, but also with partners such as Japan, European countries and, to a lesser extent, Australia, South Korea, and India. The secret to their economic success lies in their commitment to economic openness and multilateralism, as well as their integration into global value chains. This choice of multilateralism is also reflected in the diplomatic arena; the motto of these countries, remarkably illustrated during the Cold War, is indeed: “Don't ask us to choose.”...

However, Donald Trump's return could change the situation and make the balancing act more perilous. The US president's massive offensive against the multilateral system and his obsession with reducing the US trade deficit by attacking its economic partners, even allies, may alter the calculations of ASEAN countries. But rather than rushing into the arms of their big neighbor China, they may seek to increase their options and partners.

Sophie Boisseau du Rocher is a senior researcher specializing in Southeast Asian politics. She has previously taught at Sciences Po Paris and is a former associate research fellow at Ifri's Center for Asian Studies.

Françoise Nicolas is a senior advisor at Ifri's Center for Asian Studies.

This article is available only in French and has been published in Politique étrangère, Vol. 90, No. 4, 2025.