Global headwinds will check pace of Asian growth in 2017

Exactly a year ago I wrote on the dominance of Factory Asia (China and south-east Asia supply chains) in contributing half of the world’s manufacturing output.
This year, how will rising protectionism from the US administration, disruption from forces such as Brexit and increased security threats affect the Asian manufacturing outlook?
The UN Industrial Development Organization (Unido) expects global manufacturing to remain weak, but compared with other regions, Factory Asia will experience relatively higher growth. The World Bank’s manufacturing Purchasing Managers’ Index signals continued expansion in China, Indonesia and Vietnam, but a slowdown in Malaysia.
Unido forecasts China’s manufacturing output will increase moderately, at 6.5%, as it is in transition period into higher value-added activities, so facing more balanced growth. India, while experiencing a slight 0.7% dip, is progressing to hi-tech manufacturing.

Economics
Thailand’s slow economic recovery
The speed of economic recovery in Thailand has been slower than neighbouring countries such as Malaysia, Vietnam and China, especially in terms of industrial and service output.
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Thailand strengthens COVID-19 control measures
Apart from the capital city, many provinces have also enforced tougher measures to contain COVID-19, with inter-provincial travels now being restricted in some areas.

According to the Tourism Authority of Thailand (TAT) latest update regarding the Royal Thai Government’s announcement on the strengthened COVID-19 control measures to contain local transmission, 28 provinces are now declared as “highly controlled areas”.
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Contributing factors include the recovering world economy and the International Monetary Fund’s (IMF) estimate that the world economy will expand 5.2 percent in 2021 from a contraction of 4.4% this year.
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