Asia Pacific economic outlook – January 2009 |
The January 2009 edition of the Asia Pacific economic outlook highlights 15 economic issues that could define 2009 and gives a near-term economic outlook for Australia, China and South Korea.
- Australia – The economy is slowing down because of a fall in domestic demand and exports. Australia’s commodity exports will take a hit because of the slowdown in China. The central bank will likely cut rates further but this is unlikely to prevent a slowdown.
- China – The economy is slowing down and indicators show that it is likely to intensify. Factory output has reduced sharply because of falling exports. The central bank will likely cut interest rates in the near-term and also prevent any appreciation of the yuan.
- South Korea – The central bank has cut interest rates five times between October and January because growth has been dismal. Forecasts indicate that 2009 could be painful too. The central banks will likely cut rates in a bid to reduce the pain but it is unlikely to prove very effective.
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Asia Pacific economic outlook - January 2009
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