APEC Faces Slow Growth and Global Uncertainties Despite Expected Rebound in 2022
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APEC economic growth expected to be 3.3% in 2022, up from 2.6% in 2021, but will lag behind other global economies in coming years.
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Downside risks include effects of pandemic, inflation, higher debt, climate change, trade protectionism, and US-China tensions.
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Focus on expected Xi-Biden meeting amid dismal bilateral relations between US and China.
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Sluggish trade in APEC region due to inflationary pressures, higher cost of trade finance, and global uncertainties.
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Shifting demographics with declining birth rates and aging populations pose a challenge with fewer workers to support more elderly.