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2022-10-02
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Singapore professionals: Asia's economic growth will return to more than 7%

Singapore professionals: Asia's economic growth will return to more than 7%

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Guide: Wang LIANGHENG, senior vice president of financial markets at DBS Bank, Singapore, predicted at the end of last year, The economic growth of 10 Asian countries and regions (China, Hong Kong, Singapore, Indonesia, Malaysia, Philippines, Thailand, South Korea, Taiwan and India) can reach 7.3% this year, 1.1% higher than last year. He still believes that this

at the end of last year, Liang Heng Wang, senior vice president of Financial Markets Department of DBS Bank in Singapore, predicted that the economic growth of 10 countries and regions in Asia (China, Hong Kong, Singapore, Indonesia, Malaysia standard to strengthen the compliance and safety management of food contact materials from the perspective of supply chain to West Asia, Philippines, Thailand, South Korea, Taiwan and India) could reach 7.3% this year, 1.1% higher than last year. So far, he still believes that this prediction is of practical significance. First, the growth rate of China's fixed asset investment has returned to 23%; Second, Asian central banks can still implement loose monetary policy; Third, Asian countries still have room to increase fiscal stimulus

Wang LIANGHENG believes that from the data released by China in the first two months of this year and the activities of the capital market, the approval projects approved by the national development and Reform Commission in various provinces of China and last year have been launched one after another. In January, the new loans of the Bank of China reached 1.07 trillion yuan, and the scale of social financing also hit a record high of 2.54 trillion yuan. The average growth rate of China's fixed asset investment in the past eight years was 26%, but it fell sharply to 20% last year. If it returns to 23% this year, it can increase GDP by 0.7% to 1%. China's exports rebounded strongly in December last year and January this year. Despite the effect of early shipment in the lunar new year, the export growth rate in January reached 25%, which is still a steady rebound

except for China, the exports of Asian countries rebounded significantly in January. The export growth rate of South Korea was 10.8%, that of Taiwan was 21.8%, that of Singapore also recovered to 2.2%, and that of India also returned to the track of positive export growth. Although the export growth in Asia this year may benefit from the rebound in European and American demand, since the 2008 financial tsunami, Asian countries have experienced a sharp rise in raw material prices. American steel and aluminum tariffs "force crying" suppliers to understand that it is not reliable to increase exports only by European and American demand. Therefore, within the scope of feasibility, most of them implement stimulus fiscal policies of tax reduction or investment increase

Wang LIANGHENG believes that the policy of "fiscal easing and monetary stability" is not only feasible in China, but also applicable to most Asian countries. Asian countries actively carried out "deleveraging" after the Asian financial crisis 16 years ago, and the government lived within its means. Therefore, caizhang Jianping said that the levels of government deficits and national debt were generally low. In the second half of last year, the rise of foreign exchange reserves of Asian countries also increased significantly. In order to counter the quantitative easing policy after the decline of subsidies in Europe and the United States, Asian countries raised interest rates 50 times in 2010, but since September 2011, Asian countries have reduced interest rates 18 times, and inflation is still within the controllable and comfortable range. It can be seen that Asian emerging economies are no longer the weak under the pressure of monetary war

Wang LIANGHENG believes that at present, due to the steady growth of exports in Asian countries and regions, the high level of investment has been sustained, and the government continues to implement consumption stimulus policies, he predicts that there should be no suspense that the economic growth in Asia will return to a level of more than 7% in 2013

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