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Will China become the centre of the world economy? | FT
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The global economy is shifting away from the US and Europe towards Asia. The FT’s global China editor James Kynge and FT economics commentator Martin Sandbu discuss whether China will dominate global commerce or whether the world economy could split along regional lines
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Asean-6 2021 Economic Forecast: ASEAN Outlook
Economic Forecast for ASEAN 6 2021
Southeast Asian economies this year, are broadly aiming to regain the growth momentum they had before the COVID19 pandemic triggered, after the historic declines in 2020.
A look at early forecasts around the region, however it’s shows a wide range of scenarios, as risks continue to lurk. But still, a solid rebound in growth this year is expected across the region, though Vietnam and the Philippines are set to outpace the rest.
Here’s a look at how ASEAN Economy will grow this year. The forecasts are based on the projection reported by each country as comparison to the Global economist.
Singapore on Monday maintained its forecast of gross domestic product growth of 4% to 6% for 2021, unchanged from its estimate in November. Oxford Economics 2021 outlook, expects Singapore to expand by 5% this year, while Focus Economics Consensus Forecast panelists, sees Singapore economy expanding 5 point 6% in 2021. The citystate is coming off a record 5.4% annual contraction last year.
Indonesia expects gross domestic product to grow between 4.5% and 5.5% this year, while Oxford Economics expect Indonesia’s economy will rebound to 4.7%, after a 2.1% contraction in 2020.
Philippines projects a growth range of 6.5% to 7.5% for this year, while Oxford Economics expects the Philippines’ economy to rebound by 7.7%, versus a 9.5% drop in 2020, as the economy reopens further and vaccinations begin.
Thailand lowered its economic growth sights, revising its 2021 forecast down to 2.5% to 3.5% growth, versus a 3.5% to 4.5% projection in November, lower than the Oxford Economics projection of 4.3%, and by the World Bank of 4%.
In Malaysia, which remains under a state of emergency, the central bank did not reveal a 2021 growth projection, when it announced last week that GDP shrank 5.6% in 2020. That was the worst performance since the Asian financial crisis days in 1998.
Southeast Asia’s growth leader in 2020, may still continue its growth Momentum as Vietnam targeting a 6.5% growth rate this year.
International Monetary Fund IMF was lowered its ASEAN economic growth to 5.2% in 2021 from the previous projection of growth of 6.2%, while Oxford Economics projects a 5.3% growth for ASEAN6.
World Economic Outlook, October 2021
The global recovery continues, but momentum has weakened, hobbled by the pandemic. Risks to economic prospects have increased, and policy tradeoffs have become more complex. The global economy is projected to grow 5.9 percent in 2021 and 4.9 percent in 2022. WEO
Read the report: http://IMF.org/WEOoct21
Thailand Economic Outlook 2021 by KRUNGSRI EXCLUSIVE
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First TV interview with Thai king – says country is ‘land of compromise’ amid widespread protests
Thousands of Thai royalists have rallied in Bangkok in their biggest show of support for the monarchy so far. (Subscribe: https://bit.ly/C4_News_Subscribe)
With the country in turmoil and protestors demanding sweeping reforms the King in an exclusive interview with this programme and CNN has called his country \”the Land of Compromise,\” suggesting there may be a way out of the long running political impasse.
From Bangkok our foreign affairs correspondent Jonathan Miller reports.
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