Posted 11/28/2023, 3:17:31 PM
India and Southeast Asia Poised to Lead Asia-Pacific Growth as China Slows
- Asia-Pacific's growth engine expected to shift from China to countries like India and Southeast Asia, with India's GDP forecast to reach 7% by 2026
- China's economy will expand by only 4.6% by 2026 due to property sector woes and high debt levels
- India projected to see highest growth in region at 7% by 2026, followed by Vietnam at 6.8% and Philippines at 6.4%
- Global headwinds like Middle East conflicts could raise energy costs and fan inflation, diluting corporate margins in Asia-Pacific
- India's large domestic market, purchasing power and stable policies continue driving high growth despite global challenges