Asian Economy

World Bank says recoveries in developing Asian economies losing steam

Developing economies in Asia have mostly regained ground lost during the pandemic but are seeing their recoveries stall as productivity lags, the World Bank said in a report released Friday. The report forecasts that growth in the region including China will pick up pace this year after the world's No. 2 economy relaxed pandemic restrictions on travel and other activities. But recoveries elsewhere in the region, excluding China, will moderate as pressures of inflation and growing household debt slow consumer spending, it said. Across the Asia-Pacific, economies are expected to grow at a 5.1% annual pace this year, up from 3.5% in 2022, the report said. But not including China, growth is expected to slip to 4.9% in 2023 after a rebound from the worst of the pandemic of 5.8% in 2022, it said. Major Asian economies like Indonesia, Philippines, Thailand and Vietnam will see their recoveries slow and meanwhile face risks from weakening global growth, spillover from the war in Ukraine a

Analysts cut Asian companies' earnings; global slowdown, China to blame

Some analysts expect China's recovery may not be enough to offset headwinds from weak global demand and supply constraints for export-reliant economies in the region

Saving Asia from stalling growth

Asia might not reach its full growth potential, argue the authors of The Connections World, thanks to the nexus between the state and selected private business enterprises in the continent

Asia's prospects: Status quo or a rougher ride?

The problems with 'Connections World' model & the configuration of economic and political power that it has enabled are mounting

Best of BS Opinion: Unscientific development, taxing demands, and more

Here is the best of Business Standard's opinion pieces for today

Asia the saver

The global savings glut may persist as, despite ageing rapidly, Asia can continue to be a net saver

ADB cuts developing Asia's GDP outlook for 2023 amid global growth concerns

Growth in China, the largest economy in Asia, is expected to slow in 2022 to 3% against a 3.3% expansion predicted in a September report

Asian equities witness highest monthly foreign inflows in two years

Expectations that China would gradually loosen its zero-Covid policy and open up its economy also lifted sentiment

Ukraine war affected Asian economy; risk of fragmentation worrisome: IMF

The war in Ukraine has affected the Asian economy broadly in terms of trade and financial market uncertainties and inflation, a top IMF official said on Tuesday, warning that going forward the risk of fragmentation was quite serious in the Asia Pacific region. If you look at the (Ukrainian) war itself, there are multiple channels through which it has affected Asia. One, of course, is the falling external demand. Asia doesn't have many strong trade links with Russia. But Asian trade links with Europe are pretty high. To the extent that Europe is affected significantly by the war in Ukraine, it affects external demand for countries in Asia, Krishna Srinivasan, Director Asia and Pacific Department, International Monetary Fund (IMF) told PTI in an interview. The second area is on food and commodity prices, which have increased significantly since the war, he said. They had already gone up during the pandemic but had been intensified in the context of the war. That has implications for .

ADB cuts outlook for developing Asia growth on slowing China expansion

The Asian Development Bank cut its growth forecast for China and also lowered its outlook for developing Asia amid rising interest rates, a prolonged war in Ukraine and Beijing's Covid Zero policy

Amid China's slowdown, Asian manufacturing hubs see dip in demand

Purchasing managers indexes for Taiwan fell to 42.7 from 44.6 in July -- its lowest since May 2020 -- while South Korea's fell to 47.6 from 49.8 -- its lowest since July 2020

India to be the fastest-growing Asian economy in FY23: Morgan Stanley

Analysts at Morgan Stanley expect India's gross domestic product (GDP) growth to average 7 per cent in 2022-23. The Indian economy, they said, is set for its best run in over a decade.

Japan trade deficit grows despite improved exports as oil prices surge

Japan's trade deficit for the first half of this year totaled nearly 8 trillion yen because of surging oil prices and a sinking yen, brought on partly by the war in Ukraine, and weaker global demand

Inflation in Asia Pacific economies to subside early: Moody's Analytics

Inflation in Asia Pacific economies is expected to subside earlier as commodity prices retreat, but country-specific factors could lead to different inflation outcomes, said Moody's Analytics

Inflation risk has peaked in Asia; rate hikes may moderate: Morgan Stanley

Inflation as measured by the CPI index stood at 7.04 in May 2022, higher than the Reserve Bank of India's (RBI's) comfort zone of 2 - 6 per cent

Crisis-hit Sri Lanka's economy shrinks 1.6% in the March quarter

The contraction likely marks the beginning of a painful and long recession for the country

US defence secretary urges united front in Asia to stop repeat of Ukraine

US Secretary of Defense Lloyd Austin vowed to help Asian nations push back against Chinese "bullying," describing the efforts as necessary to prevent a repeat of the Ukraine crisis in the Pacific

Indian inflation likely accelerated to an 18-month high in April: Report

Food inflation, which accounts for nearly half the consumer price index (CPI) basket, reached a multi-month high in March

Sri Lankan tea pickers' dreams shattered as nation faces economic crisis

The Covid-19 pandemic severed the tourism lifeline of the Indian Ocean nation, already short of revenue in the wake of steep tax cuts by the government.

Structural weakness of Pakistani economy driving away investors: Report

The long-standing structural weakness of Pakistan's economy, aggravated by the global challenges of the Covid-19 pandemic and the Ukraine-Russia war, is scaring away the investors in the country