giving assurance of higher growth rates, commitment to the market economy and free trade, and building a world “beneficial to all” caught the attention of several at this year’s Summer Davos in Tianjin.
Despite the promising signs of Asia’s economy lifting global growth, the region finds itself caught amid intense geopolitical tensions between the United States and China. Given the difficulty of delinking the region’s economic prospects from politics and other issues, the goal of cooperation – especially with technology opening the doors to significant productivity gains – may be difficult to realise, panellists said.
“The annual growth rate for the region is projected at 4.6 per cent for 2023, representing a significant increase from the 3.8 per cent growth posted last year and especially strong when considering that global growth projections overall are stagnant.”
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