Synopsis
China’s nearly instant and complete pivot in December 2022 to stop the zero-Covid policy offers the potential for a much quicker recovery than has been experienced elsewhere. As China recovers, then ASEAN economies, South Korea and Australia are expected to follow suit, but with much shallower trajectories. What’s the outlook?
For the Asia-Pacific region, 2022 ended up being a year of uncertainty and volatility. This year seems to be offering up just as much uncertainty and possibly more. The major economies of the region, except for Hong Kong, avoided recession last year, and yet nearly all suffered volatile growth in 2022. This was most notable in Vietnam, where robust growth in the second and fourth quarters was preceded by quarterly declines.In recent trends,
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