China’s slower-than-expected reopening will weigh on Asean growth: analysts
Add BT as a preferred source
CHINA’S economy is recovering more slowly from the Covid-19 pandemic than anticipated, and the initial optimism expressed by observers has turned into caution over South-east Asia’s prospects.
“The lack of a growth fillip from China is becoming increasingly obvious and will weigh on growth for (Asean-4) countries from the second to the fourth quarter this year,” said OCBC’s senior Asean economist Lavanya Venkateswaran, referring to Indonesia, Malaysia, the Philippines and Thailand.
“When China first abandoned its zero-Covid policy, an unsustainable euphoria took hold that a sustained and significant revival in domestic demand would be enjoyed,” Katrina Ell, senior Asia-Pacific economist at Moody’s Analytics, told The Business Times.
TRENDING NOW
Father-and-son duo Raj Kumar and Kishin in exclusive due diligence to buy Scotts Square
When every phone becomes a satellite phone, what happens to Asia’s telcos?
Koh Brothers Eco Engineering faces up to S$57.6 million in potential legal liabilities
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
