Resource nationalism is reshaping the physical foundations of the global economy. Export controls, production quotas and processing mandates have become de rigueur as governments assert control over the critical minerals powering AI and the energy transition.

Southeast Asian economies are moving to insulate themselves. Governments are accelerating domestic energy build-outs—from Indonesia’s UNOPS partnership on coal phase-outs to Malaysia’s national battery storage project in Pahang. In this edition of The Build-Out, we examine how the convergence of AI infrastructure demand, mineral supply deficits and energy security is forcing a structural reorganisation of global trade. We detail the four key dynamics transforming the region’s economic landscape.