Asean-6 poised to outpace China’s growth in the next decade: report
The region has strengthened its fundamentals by boosting key areas such as manufacturing and investing in emerging sectors
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SOUTH-east Asia could outpace China’s growth in the next decade with the top six Asean economies – Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam – expected to average a 5 per cent annual gross domestic product growth, according to a recent report.
In contrast, China is forecast to maintain a steady GDP growth of 3.5 to 4.5 per cent over the same period from 2024 to 2034, according to a new report by DBS Bank, consulting firm Bain & Company, and Angsana Council, a non-profit advisory group founded by Singapore-based tech investor Monk’s Hill Ventures.
Notably, for the first time in 10 years, South-east Asia drew more foreign direct investment (FDI) than China last year.
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