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- The economic headwinds that faced Asia and the Pacific last year have started to fade. Global financial conditions have eased, food and oil prices are down, and China’s economy is rebounding. These developments are helping improve prospects across the region, with growth set to accelerate to 4.7 percent this year from 3.8 percent in 2022.
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Emerging Southeast Asia is poised to remain one of the best performing regions in the world. Emerging Southeast Asia has returned to strong growth, rebounding from the global shocks of the Covid-19 pandemic and an inflation surge after Russia’s invasion of Ukraine.
May 31, 2024 · Southeast Asia’s emerging economies are set to surpass China’s growth rates for the first time in decades, marking a shift in regional and global economic dynamics, a new Lowy Institute Data Snapshot shows.
McKinsey highlights five growth levers for emerging ASEAN and show how they could boost recovery in countries such as Vietnam and Indonesia. By Oliver Tonby and Kaushik Das
- Advancing as Manufacturing Hubs
- Investing in Basic and Green Infrastructure
- Preparing Companies For A Digital Future
- Facilitating Reskilling and Redeployment at Scale
- Building High-Value Food Industries
Trade had been regionalizing in the years before the COVID-19 pandemic. Intra-Asia trade increased fourfold from 2000 to 2017 compared with growth in global trade of 2.8 times, as consumption demand from emerging Asian economies rose. Meanwhile, China’s share of exports in labor-intensive manufacturing declined (down three percentage points from 20...
The green energy revolution has been a long time in the making, but the past few months have seen a spike in interest. Climate action remains critical over the next decade, and investments in green infrastructure and the transition to a lower-carbon future could spur significant near-term job creation. And with near-zero interest rates for the fore...
In the wake of the pandemic, digital technologies moved quickly from a strategic priority to an operational imperative—both to accommodate remote workers and serve consumers as they flocked to e-commerce channels. Lockdowns caused sharp increases in the adoption of digital channels across the world and within Asia, especially for spending on essent...
For the past several years, business leaders have been preparing for the impact of automation and digital technologies on their workforce. The economic downturn is accelerating job displacement. In the A1 (virus recurs, leading to a second round of lockdowns) scenario, jobs at risk could increase by up to 878,000 in Malaysia, 4.5 million in the Phi...
According to the World Bank, agriculture makes up a significant part of the economy for much of emerging Southeast Asia—12.7 percent in Indonesia, 7.3 percent in Malaysia, 8.8 percent in the Philippines, 8 percent in Thailand, and 14 percent in Vietnam. Strengthening and expanding the agricultural sector in these countries, especially through highe...
Apr 16, 2024 · The Asian economic recovery stands out because of prompt and effective policies during pandemic’s acute phase. The next phase is even more challenging: to lay the foundation for a more inclusive, greener, and resilient region.
Overall, Emerging Asian economies are expected to grow by 5.8% on average in 2022 and by 5.2% on average in 2023. Meanwhile, economic growth in the Association of Southeast Asian Nations (ASEAN) is projected to increase by 5.2% in 2022, followed by a 5.2% expansion in 2023.
Mar 25, 2022 · Albert Park: Developing Asia’s recovery is expected to continue this year after 6.9% growth last year, but several risks loom large. It would be premature to say we’re near the end of the pandemic, as the possible emergence of more deadly Covid-19 variants remains a threat.
