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Asia Forecast Short-term Forecast on Asian Economies (March 2019 forecast /2019Q1-2021Q1)

Trade Friction Impact becomes Apparent

―Policy response and political trends considered important―

Research Director:Shinichi NISHIOKA
  Chief Forecaster
Deputy Director:Eriko TAKAHASHI
  Senior Economist
Deputy Director:Takashi MIYAZAKI
  Senior Economist
Makoto KOBARI Trainee Economist
Shota MUROMOTO Trainee Economist


JCER released March 2019 forecast on Asian Economies. The original report in Japanese is here

China/ASEAN4 Economic Outlook 

  • 2018 Q4 GDP growth slowed from Q3 due to a lack of momentum in domestic and foreign demand. ASEAN4 economies presented a mixed picture; external demand was weak, while domestic demand showed steady growth.
  • The 2019 GDP outlook for China has been revised upward. Recent developments in US-China trade talks have partially eased concerns of a slowdown. New financial policies are expected to lift domestic demand.
  • The economic outlook of ASEAN4 for 2019 has been lowered from our previous forecast. Domestic demand growth including consumption will remain steady, while the slowdown in exports will lower GDP growth. The GDP growth rate is expected to bottom out in the 1st half of 2019, given the ongoing trade talks.

【China/ASEAN4 Economic Outlook】

(Note) Previous forecasts from December 2018 in parentheses. (Source) Haver Analytics, forecasts by JCER

This forecast is a part of the Short Term forecast No.177.


Economic Recovery – Solid for China, Soft for ASEAN4

Short-term Forecast on Asian Economies September 2020 forecast 2020Q3-2022Q1

Research Director:Kei-Ichiro INABA/ Deputy Director:Akira TANAKA/ Tomohiko KOZAWA Trainee Economist/ Takuto IREI Trainee Economist


China in 2020 will be Negative Growth due to Weak External Demand

―ASEAN4 is severely Effected by Lockdown―

Short-term Forecast on Asian Economies June 2020 forecast 2020Q2-2022Q1

Research Director:Shinichi NISHIOKA/ Deputy Director:Akira TANAKA/ Economist:Tetsuo KAN/ Aiko Munakata Trainee Economist


New Coronavirus disrupts China’s income doubling goal

―Negative effects spread to ASEAN4―

Short-term Forecast on Asian Economies March 2020 forecast 2020Q1-2022Q1

Research Director:Shinichi NISHIOKA/ Deputy Director:Akira TANAKA/ Yusuke Masuda Trainee Economist/ Tatsuya Wakasugi Trainee Economist


Digital Asia under U.S.-China confrontation: the future of innovation and city economies

Medium-Term Forecast on Asian Economies December 2019 Issue 2019-2035



China’s Economy continues to slow due to Limited Economic Measures

―Relocating production bases from China will have positive effects for ASEAN4―

Short-term Forecast on Asian Economies December 2019 forecast 2019Q4-2022Q1

Research Director:Shinichi NISHIOKA/ Deputy Director:Eriko TAKAHASHI/ Mitsuki Shirasu Trainee Economist/ Shengkai Huang Trainee Economist