Viewpoints Secular Stars: Why India and Indonesia Are Set to Shine as Global Economic Leaders We believe the two resource-rich economies – once labeled fragile – will be global growth leaders over the next several years, driven by prudent policies and stable macro fundamentals.
In 2013, India and Indonesia were notoriously named among the so-called “Fragile Five” emerging market (EM) economies that depend heavily on foreign investment to finance growth.Footnote1 A decade later, their fortunes have flipped: The two Asian nations are now seen as rising secular stars amid a challenging global economic outlook.Growth in India is expected to outpace that of China this year and next – with Indonesia following closely behind in third place among major economies – according to the Organization for Economic Cooperation and Development (OECD). In 2023, the OECD forecasts India to grow 6%, China to expand 5.4%, and Indonesia to grow 4.7%, while the global economy grows 2.7%.Footnote2 To Read the Full Article Log In Or Register
Viewpoints Asia Market Outlook 2023: Regional Resilience Amid Strained Global Markets As the COVID-19 recovery continues, we expect Asia’s growth-inflation dynamics to diverge from the rest of the world, led by China’s long-awaited economic reopening.
Viewpoints China Steps Up Property Support: Is This the Turning Point for the Struggling Sector? China’s introduction of comprehensive support for its real estate sector could provide some cyclical relief amidst longer-term headwinds, but new COVID-19 waves cloud the outlook.
Blog Continuity and Concrete Direction: Takeaways From China’s 20th Party Congress Stability, security and self-reliance were overarching themes from China’s twice-a-decade leadership reshuffle. With few details disclosed on near-term supporting policies, we remain cautious on the Chinese market.