Thursday, May 28, 2015Thursday, May 28, 2015
Business
 

Asian economic growth to languish this year, China the worry

Published on Apr 25, 2014 3:46 PM
 

BANGALORE (Reuters) - Growth in emerging Asian countries will be lacklustre this year and contribute less to the global economy, despite signs of recovery in the region's major trading partners in the West, Reuters polls showed on Friday.

Much will depend on how China - the world's second-largest economy - performs. After clocking double-digit growth rates on average over the last three decades, China's economy has slowed as the government repositions it to rely more on domestic demand.

The consensus from over 200 economists polled April 15-24 was for growth in economies from China to India, Indonesia, Singapore and Thailand to be steady and near last year's largely lacklustre levels.

That suggests contributions to the world economy from Asia - which for many years drove global growth - may diminish and the road back to strength could be long and slow.

 
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!