The Emerging Asian Economic Outlook

経済研究部主任研究員高山武士

Overall, the growth rate of emerging Asian economies has slowed down since last year. It seems to have reached a certain level, but we cannot discern a recovery yet. Economic diversity continues in individual countries. The economies of South Korea and Taiwan are sluggish because their export oriented economies have been impacted by the global slump. India, which suffered from high inflation, has also seen a reduction in the growth rate. On the other hand, ASEAN countries have achieved higher growth because of strong domestic demand.
Financial markets haven’t gone through rapid ups and downs, except the Indian market. Nonetheless, strengthening currency is a new concern in South Korea and the Philippines. This is an incentive for their central bank to cut their policy rates. The Indian rupee has been volatile in part due to foreign investor sentiment.
The Inflation rates in emerging Asian economies are stable except in India. Some central banks have room to cut their policy rate and a few have done so. On the other hand, supply restrictions keep India’s inflation rate high.
South Korea, Taiwan and India, whose economies are sluggish, are expected to recover in the future. However, the pace is very slow and their growth rate is still below their potential　growth rate in 2013. Their central banks see this as a chance to adopt a rate-cutting policy.
Potential crises in foreign economies are a downside risk factor of emerging Asian economies, especially the EU debt problem and the prolonged fiscal cliff in the U.S. However, the possibility of this problem being actualized seems low.

日付	タイトル	執筆者	媒体
2025/01/16	ロシアの物価状況（24年12月）－前年比伸び率は9％台半ばまで上昇	高山武士	経済・金融フラッシュ
2025/01/08	ユーロ圏消費者物価（24年12月）－総合指数は3か月連続上昇、2.4％に	高山武士	経済・金融フラッシュ
2025/01/08	ユーロ圏失業率（2024年11月）－失業率・若年失業率ともに横ばい推移	高山武士	経済・金融フラッシュ
2024/12/24	マクロで見る「手取り」の状況	高山武士	Weekly　エコノミスト・レター

日付

タイトル

執筆者

媒体

2025/01/16

ロシアの物価状況（24年12月）－前年比伸び率は9％台半ばまで上昇

高山武士

経済・金融フラッシュ

2025/01/08

ユーロ圏消費者物価（24年12月）－総合指数は3か月連続上昇、2.4％に

高山武士

経済・金融フラッシュ