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
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving average. The Philippines and Malaysia are not far off their daily infection peaks reached in the second quarter of 2021.
Last week was tough for the Asia-Pacific region. Many countries responded to stubbornly elevated daily infections by extending or tightening social distancing measures.
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Tourism
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which will come from 3 million international visitors and the remaining 550 billion from the domestic market.
BANGKOK (NNT) – Following the launch of the Phuket Sandbox tourism scheme on July 1st this year, many foreign tourists moved by the warm hospitality of the people of Phuket, are looking forward to visiting other provinces, such as Chiang Mai and Bangkok.
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Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
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