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Asean growth expected to surpass China in 2022: analysts

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Mindy Tan

Mindy Tan

Published Wed, May 25, 2022 · 05:50 AM
    • Shanghai, China’s financial hub with more than 28 million people, remains in lockdown for almost 2 months, though more residents are recently allowed to go out to shop for groceries. 
    • Shanghai, China’s financial hub with more than 28 million people, remains in lockdown for almost 2 months, though more residents are recently allowed to go out to shop for groceries.  REUTERS

    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.

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