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Economic Outlook for Southeast Asia, China and India 2018

Fostering Growth through Digitalisation

image of Economic Outlook for Southeast Asia, China and India 2018

The Economic Outlook for Southeast Asia, China and India is a bi-annual publication on regional economic growth, development and regional integration in Emerging Asia. It focuses on the economic conditions of Association of Southeast Asian Nations (ASEAN) member countries: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam. It also addresses relevant economic issues in China and India to fully reflect economic developments in the region. Each edition of the Outlook comprises four main parts, each highlighting a particular dimension of recent economic developments in the region. The first part presents the regional economic monitor, depicting the economic outlook and macroeconomic challenges in the region. The second part takes stock of recent progress made in key aspects of regional integration. The third part consists of a special thematic chapter addressing a major issue facing the region. The 2018 edition focuses on fostering growth through digitalisation. And the fourth part includes structural policy country notes offering country-specific reviews and recommendations.

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Macroeconomic assessments and economic outlook for Emerging Asia

OECD Development Centre

Overall, growth in Emerging Asian economies is projected to remain robust through 2022. Growth in 2017 in ASEAN and China will pick up on a strong trade rebound and resilient domestic consumption, while growth in India has edged downwards owing to taxation and monetary reforms. In the medium term, the region’s growth will be anchored by domestic consumption and the infrastructure initiatives currently planned by a number of governments. Among the ASEAN’s ten member countries, Cambodia, Lao PDR and Myanmar are projected to grow the fastest, while the Philippines and Viet Nam are expected to lead the growth of the ASEAN-5. Even though macroeconomic fundamentals have been largely stable, policy makers in the region should pay close attention to the risks of a faster than expected monetary policy normalisation in advanced economies, the rise in private-sector debt, and the broadening of trade restrictions globally and limited progress in regional trade agreements.

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