Asean growth expected to surpass China in 2022: analysts

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.

Maybank analysts say they expect Asean-6’s GDP to grow at 4.9 per cent in 2022, faster than China’s 4.5 per cent. Dropping Singapore, which is further along in terms of post-Covid recovery, they expect Asean-5 growth for 2022 to come in at 5.2 per cent.

The Asean-5 region comprises Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.

“Asean is adopting a ‘living with Covid’ strategy in a new endemic normal, as opposed to China’s ‘zero-Covid’ strategy,” said the analysts, noting that as a result, mobility indices have largely returned to pre-pandemic levels a…

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