Based on OFDI panel data of China and ten ASEAN countries from 2010 to 2020, this paper empirically analyzes the impact of Sino-US trade friction on China's direct investment in ASEAN, and studies the moderating effects of China's opening to the outside world and bilateral economic and trade relations on this impact. The results show that: (1) In general, under the background of Sino-US trade friction, China's direct investment in ASEAN increased. (2) China's openness to the outside world and bilateral economic and trade relations have a positive moderating effect, among which the greater the export volume of China's foreign trade, the more obvious the impact of Sino-US trade friction on China's direct investment in ASEAN. The closer the bilateral economic and trade relationship, the more China's direct investment in ASEAN increases in the context of Sino-US trade friction. In general, this article improves the internal logic of China's direct investment to ASEAN under the Sino-US trade friction, and effectively explains the rationality and scientific nature of China's opening up process. China should actively deal with Sino-US trade frictions and further increase economic and trade exchanges and investment cooperation with ASEAN countries.

Jiang Ying. Will the increased trade friction between China and the US affect China's direct investment in ASEAN?. Academic Journal of Business & Management (2024) Vol. 6, Issue 4: 1-7. https://doi.org/10.25236/AJBM.2024.060401.

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