The Chinese economy is expected to remain resilient in 2019 and 2020, supported by strong policy responses to mitigate external and domestic risks. This is according to the preliminary assessment by the ASEAN+3 Macroeconomic Research Office (AMRO) after its Annual Consultation Visit during July 8 to 16, 2019.
AMRO Chief Economist Dr. Khor Hoe Ee (second from left), Lead Economist/Mission Chief Dr. Sumio Ishikawa (fourth from left), Bank Indonesia Deputy Governor Mr Dody Budi Waluyo (middle) and Executive…
Myanmar’s economy has picked up in FY18/19 after slowing down in the six-month transition in FY18 before the new fiscal year.
Despite its disruptive effects, the ASEAN+3 economies can harness technology for job creation and sustainable economic growth. To successfully do so, regional economies need to create a technology-friendly ecology by investing in hard and soft infrastructure. This insight was shared by government officials, economists, and private sector representatives during a seminar entitled “Building Capacity and Connectivity for the New Economy in East Asia” co-organized by the ASEAN+3 Macroeconomic Research Office (AMRO) and the Bangko Sentral ng Pilipinas (BSP) on June 19 in Manila. This seminar is part of AMRO’s outreach program to introduce key findings of its flagship report, the ASEAN+3 Regional Economic Outlook (AREO) 2019, which is published in early May. It attracted an audience of 80 participants from both the public and private sectors.
Amid external uncertainties, ASEAN+3 economies should enhance regional cooperation and embrace new technology to unleash growth potential and successfully transition to the “new economy”.
The U.S. Fed held its policy rate steady at the June 19 Federal Open Market Committee (FOMC) meeting, observing that economic activity is still “rising at a moderate rate.”
The ASEAN+3 economies are in a solid position to mitigate economic headwinds from the escalation of the US-China trade tensions, which have dampened the economic outlook in the region.
Improvements to both soft and hard infrastructure, with a focus on environmental, social, and governance, will be key for East Asia to keep up its growth momentum and reap the benefits of the new economy.
As one of the most aged societies in the world with a shrinking labor force, Japan has been struggling to meet the demand for more workers. Last year, the government took the unprecedented measure to open the door for more foreign workers in order to mitigate the labor shortages in the economy.
The Malaysian economy proved resilient to escalations in U.S.-China trade tensions and domestic commodity supply disruptions in 2018, expanding by 4.7 percent on the back of robust private consumption.
