In the era of trade wars, can Asia continue to maintain growth momentum? ADB releases latest expectations forecast
National University of Singapore Business School 2018-07-23
The Asian Development Bank (ADB for short) recently announced a supplementary report on the “2018 Asian Development Outlook”, which predicts that the Asian region’s economy will continue to maintain steady growth this year and next. ADB predicts that the growth rate of the Asia-Pacific region will reach 6% in 2018 and 5.9% in 2019, which is consistent with the forecast released in April.
The latest ADB report believes that the growth of Asian developing countries is expected to grow as expected. The report also shows the economic growth rates of the Asia-Pacific region and major economies. It is estimated that China’s GDP growth will be 6.6% and 6.4% in the next two years, India’s 7.3% and 7.6%, Vietnam’s 7.1% and 6.8%, Indonesia’s 5.2% and 5.3%, Singapore’s 3.1% and 2.9%, and the Pacific region They are 2.2% and 3.0%.
*Data from the supplementary report of the Asian Development Outlook published by the Asian Development Bank in July 2018
According to Reuters, a recent report issued by ADB mentioned that the overweight US trade protection measures and countermeasures by China and other countries will bring obvious economic downside risks. The latest forecast also takes into account the tariffs imposed on July 15 and stated that “the risk of the continued escalation of protectionism may hurt the confidence of consumers and businesses, and will also affect the growth prospects of developing Asian economies.
How the turbulence and adjustment of the international economy and trade will affect Asian economic growth and industrial structure is not only a difficult problem facing governments around the world but also a major test for many companies seeking to expand overseas markets.
In fact, more and more international companies favor Asia, and more of them have high hopes for the vigorous development of the Asian market, which has 45% of the world’s population, which also means huge consumption potential. Especially in recent years, the Southeast Asian market has become “a must-named place for military strategists.” Whether it is the relocation of the traditional manufacturing industry or the investment and acquisition of international technology giants, they have injected new vitality into the development of Southeast Asian countries.
The Southeast Asian market continues to be popular and is listed by many companies as the first step to enter the international market. However, for ambitious companies, the multi-economy of ASEAN (ASEAN) is full of hope and danger.
In this uncertain era, Singapore shoulders the important task of ASEAN’s rotating chairmanship, not only to undertake the internal coordination of the 10 ASEAN countries but also to promote win-win cooperation with countries outside the region.
As we all know, Singapore is the most developed country in Southeast Asia. Although small in size, Singapore has the best business environment, the most stable financial system, the most complete legal protection, and the most diverse social culture. As the most important international metropolis in the world, Singapore can rival New York, London, Paris, Shanghai, Tokyo and Hong Kong.
Located in the Strait of Malacca, the only route for shipping and trade in Southeast Asia, Singapore has become a core hub connecting important markets such as ASEAN, China, India, and Australia. At present, Singapore has more than 26,000 multinational companies setting up regional headquarters in Singapore. From here, you will have the opportunity to explore the market potential of major Asian countries such as China and India, and to understand the business environment of Southeast Asian emerging economies such as Vietnam and Indonesia. At the same time, you can also experience the benefits of well-known companies in developed countries such as Japan and Australia. The vitality of the entire region.
In order to make further use of its unique resource advantages, the National University of Singapore Business School provides Asian immersion EMBA degree courses for founders, executives, and corporate managers of various countries with promotion potential. Use international thinking and Asian perspective to deeply analyze the commercial development and business strategies of major Asian economies.
As the first business school in Asia to offer EMBA degree courses, the EMBA English course of the National University of Singapore adopts a mobile classroom teaching method, and carries out in-depth teaching and including business visits in seven Asia-Pacific cities.