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Asia Forecast Short-term Forecast on Asian Economies (December 2020 forecast /2020Q4-2023Q1)

Robust Expansion for China, Soft Recovery for ASEAN4

Research Director:Kei-Ichiro INABA
  Chief Forecaster
Deputy Director:Akira TANAKA
  Senior Economist
Takuto IREI Trainee Economist
   
Daisuke MARUYAMA Trainee Economist
   

2020/12/17

JCER released December 2020 forecast on Asian Economies.

China/ASEAN4 Economic Outlook 

  • China's real GDP growth rate increased from 3.2% in Q2 to 4.9% in Q3 2020. A solid recovery of private consumption is observed thanks to improvements of employment and income environment. China’s economy is projected to expand steadily over the forecasting period. The projection is based upon our aggressive estimation of economic effects of "Made in China 2025" and "New Infrastructure Construction,” the latter of which is a massive infrastructure investment plan of 10 trillion yuan by 2025. The GDP growth rate is projected to be 2.2% in 2020, 9.4% in 2021, and 6.4% in 2022.
  • ASEAN4’s real GDP growth rate improved from –10.4% in Q2 to –5.3% in Q3 2020. Its economic recovery is still soft mainly due to sluggish private consumption. The GDP growth rate in 2020 is projected to be –4.4%. Because the export to China will increase, the growth rate is projected to be 7.4% in 2021 and 6.9% in 2022.

【China/ASEAN4 Economic Outlook】

 

2021/12/22

Moderate recovery in China and ASEAN4 supported by private consumption

Short-term Forecast on Asian Economies December 2021 forecast 2021Q4-2024Q1

Research Director:Kei-Ichiro INABA/ Deputy Director:Akira TANAKA/ Asia Forecast Team:Eriko TAKAHASHI/ Taiki TANAKA Trainee Economist

2021/12/15

China to become the world’s largest economy in 2033

-- Korea set to overtake Japan in 2027 in terms of GDP per capita

Medium-Term Forecast of Asian Economies December 2021 Issue 2021-2035

Director:Atsushi TOMIYAMATetsuaki TAKANOEriko TAKAHASHITamaki SAKURA/ Daisuke MARUYAMA/ Masashi UEHARAGo YAMADA

2021/10/25

$1.7 trillion lost because of COVID-19 crisis in Asia

-- In 2020, the service industry suffered a serious setback
-- Growing debt may have a medium-term negative effect

Medium-Term Forecast of Asian Economies

Daisuke MARUYAMA Economist/ Tetsuaki TAKANO

2021/09/15

A Pause in Economic Recovery Caused by the Delta Variant

Short-term Forecast on Asian Economies September 2021 forecast 2021Q3-2023Q1

Research Director:Kei-Ichiro INABA/ Deputy Director:Akira TANAKA

2021/06/15

Robust External Demand will Support China and ASEAN4

Short-term Forecast on Asian Economies June 2021 forecast 2021Q2-2023Q1

Research Director:Kei-Ichiro INABA/ Deputy Director:Akira TANAKATakashi MIYAZAKI