The Chinese economy is expected to remain resilient in the face of challenging conditions stemming from a global economic slowdown, the U.S.-China trade tensions, the country’s financial deleveraging process, and the recent COVID-19 outbreak.
AMRO Chief Economist Dr. Hoe Ee Khor speaks with Channel NewsAsia regarding the impact of the coronavirus on Singapore’s economy.
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.
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.
Strengthening regional financial safety nets and ensuring a smooth transition into the new economy are pertinent to the economic stability and well-being of the ASEAN+3 region. This was highlighted across all three outreach events the ASEAN+3 Macroeconomic Research Office (AMRO) held in Australia.
Watch this two-minute video to discover the macroeconomic prospects for the ASEAN+3 region and baseline risks that can affect the regional growth. The video also presents policy recommendations to policymakers to manage risks while maintaining financial stability.
The region should leverage on complementarities, embrace technology, and strengthen multilateralism and regional integration.
The ASEAN+3 region remains resilient, anchored by sustained domestic demand. Regional growth is expected to moderate slightly to 5.1 percent this year, and 5.0 in 2020, reflecting mostly the drag from exports, given the cyclical slowdown in the tech/capex cycle and lingering uncertainties from the U.S.-China trade negotiations.
The ASEAN+3 Regional Economic Outlook (AREO) provides a comprehensive assessment of recent developments and the outlook for the region, taking into account spillovers from the global economy and inter-linkages in international financial markets.
