Global Economic Outlook 2015: Emerging Asia-Pacific
Growth prospects of the emerging Asian countries will be significantly affected by the economic slowdown in leading Asian economies such as China and Japan. The drop in oil prices is likely to continue throughout 2015. Emerging APAC countries that are net importers of oil, can save more on their energy bills and channelize that on goods and services, which is likely to drive economic growth. A % decline in average oil prices in 2015 over 2014, is likely to fuel gross domestic product growth by % in emerging APAC countries. The possibility of geopolitical issues in Asia over the South China Sea dispute still remain a cause of concern and could pose a threat to growth prospects of some countries in 2015.
About this report
The growth prospects of the economies in emerging Asia-Pacific are expected to be affected significantly by the uncertainties arising from the economic slowdown of major Asian superpowers such as China and Japan, and the Eurozone. However, certain positive factors such as declining oil prices, a rebounding US economy, with US being a key exports market for the emerging Asian economies, and growth-oriented government policies are expected to boost the economic growth of the region in 2015.
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