Asean growth expected to surpass China in 2022
The Business Times, pages 1 – 2
The extreme polarity in Asean’s and China’s approach to Covid-19 is making its impact felt, with economists projecting that 2022 could be the first time in 30 years that gross domestic product (GDP) growth of the Asean-6 outpaces China. “Asean is adopting a ‘living with Covid’ strategy in a new endemic normal, as opposed to China’s ‘zero-Covid’ strategy,” said the Maybank analysts.
China was among the first countries to bring Covid-19 under control, resulting in its 8.1 per cent growth rate in 2021, its best since 2011. NTU’s associate professor Paul Yip Sau Leung said that he expects China’s growth to be weak for quite a while but “sooner or later, it will come back up”, noting that China continues to invest in building blocks such as its foreign direct investment into Africa.
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