Asian economies are facing some serious economic headwinds amid growing political risk, possibly exacerbated by the recent arrest of a top executive of Chinese IT giant Huawei by Canadian authorities on behalf of the US. The arrest of chief financial officer Meng Wangzhou and Chinese retaliation by detaining Canadian citizens are just symptoms of a larger political fallout between the US and China that may well contribute to a larger freeze in trade and spill over into other economic areas.