Asia-Pacific economies are likely to prove resilient to continuing Covid-19 outbreaks, due to limited lockdowns and increased export demand from the US and EU, a Deutsche Bank report released on Monday said.
Although many countries in the region are experiencing relatively high Covid-19 daily infections and vaccination rates are generally still low compared with developed markets, the bank noted their economies are still less affected than last year.
“Many of the current lockdown measures are very targeted and localised,” said the Deutsche Bank researchers, led by Jason Liu, Asia-Pacific head of the bank’s chief investment office.
“Most emerging market Asian countries are export-oriented and are therefore ready to benefit from further recoveries in external demand,” they added.
The Deutsche Bank team said its gross domestic product forecast for China remained at 8.7 per cent for this year and 5.5 per cent in 2022. “We believe that the Chinese economy will remain supported by export growth and improving consumption.”
China’s GDP growth was 12.7 per cent year-on-year…
