Report claims digital tech and free flow of data keys to future global economy. The U. The center has envisioned an economic landscape through to predict paths that major economies will take, and what Japan must do to remain economically vibrant. Japan is forecast to struggle with stalled productivity in addition to a shrinking and aging population, seeing real gross domestic product continuing to contract in dollar terms. The country is expected to lose its No. JCER took into account three factors when making its long-term forecast.
The Future of Economic Growth
The Asian century is set to begin | Financial Times
Meantime, the burning question: Does the sluggish 1. Or will see a stronger reading in the next quarterly report? I call it nowcasting because as the variables behind the forecast are updated, the forecast will be revised too.. But as the broadest measure of U. Like every other economic report, GDP should be considered in context with a range of indicators.
ASEAN should have four countries with over a trillion dollar GDP by 2030
Given the failures to foresee the financial crisis and subsequent weak recovery, it is easy to think that economists have little to offer in the way of predictions. But when it comes to national-level GDP growth, past projections have largely been borne out; even when wrong, they can be used to diagnose structural problems. Nonetheless, when it comes to the specific question of what drives economic growth in the long term, one can still offer rigorous predictions by focusing on just two forces.
Vietnam will to grow at a pace of around 6. The structure of the Malaysian economy will continue to shift towards higher value-added manufacturing and services. Strategic growth industries in the services sector will include financial services, healthcare, education, commercial aviation, tourism and the IT-BPO industry, as Malaysia becomes an increasingly important services-exporting economy for Southeast Asia. In , the population of the Philippines will reach nearly million, an increase of Indonesian GDP forecast to grow at 5 percent per year over , supported by strong growth in consumer demand and infrastructure investment.