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Economic Outlook for Southeast Asia, China and India 2019 – Update

Responding to Environmental Hazards in Cities

image of Economic Outlook for Southeast Asia, China and India 2019 – Update

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.

The update of the Outlook comprises three 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 and third parts consist of special thematic chapters addressing a major issue facing the region. This update focuses on smart cities, discussing in particular smart city strategies and urban environmental risks.

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Overview

Economic growth is showing signs of slowing in Emerging Asia – Southeast Asia, China and India, partly due to trade tensions. However, domestic private consumption is holding up well. Overall, gross domestic product (GDP) growth rates in 2019 and 2020 are expected to remain high, at 6.2% for both 2019 and 2020 in Emerging Asia and 4.9% in 2019 and 5.0% in 2020 in ASEAN (Table 1). Among the ASEAN-5, Viet Nam and the Philippines will remain as the growth leaders. The CLM countries – Cambodia, Lao PDR and Myanmar – will continue to set the pace in Southeast Asia in the near term. Growth is projected to slow in China to 6.2% in 2019 and 6.0% in 2020, but to stay robust in India, at above 7.0% for both years.

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