{"id":7257,"date":"2023-04-12T08:58:59","date_gmt":"2023-04-12T08:58:59","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/asia-likely-to-grow\/"},"modified":"2023-04-12T08:59:23","modified_gmt":"2023-04-12T08:59:23","slug":"asia-likely-to-grow","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/asia-likely-to-grow\/","title":{"rendered":"Asia likely to grow 5% faster than developed economies by year-end &#8211; Morgan Stanley"},"content":{"rendered":"<p>(Reuters) &#8211;     Asia&#8217;s economic growth could outpace developed countries&#8217; by 5% by end-2023 driven by China&#8217;s easing of COVID-19 curbs, strong domestic demand and interest rates staying in less-restrictive territory, said Morgan Stanley economists.<\/p>\n<p>The recent banking stress in the U.S. and Europe strengthens the case for Asia&#8217;s outperformance, MS Asia economists, led by Chetan Ahya, said in a note dated Tuesday.<\/p>\n<p>&#8220;Lending standards will tighten in the U.S. and Europe, and, in turn, weigh on domestic demand,&#8221; wrote Ahya. <\/p>\n<p>&#8220;While this will spill over to Asia in the form of the external demand recovery being constrained, we think Asia will still be able to generate sufficient domestic demand&#8230; to continue to allow growth differentials to shift in favour of Asia.&#8221;<\/p>\n<p>A 5% higher growth than developed markets would be the strongest since 2017, MS notes.    <\/p>\n<p>The U.S. Federal Reserve and the European Central Bank raised rates by 475 bps and 350 bps, respectively, in a bid to tame inflation &#8211; their most aggressive pace in recent times &#8211; but the rate-hike cycle in Asia was more subdued, they note.<\/p>\n<p>Additionally, China&#8217;s reopening distributes benefits to the rest of the region, while Asia&#8217;s other three large economies \u2013 Japan, India and Indonesia \u2013 all have economy-specific factors driving domestic demand, MS said.<\/p>\n<p \/>\n<p> (Reporting by Aniruddha Ghosh in Bengaluru; Editing by Janane Venkatraman)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/asia-likely-to-grow\/morning-rush-hour-following-the-chinese-lunar-new-year-holiday\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3B09G-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3B09G-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) &#8211; Asia&#8217;s economic growth could outpace developed countries&#8217; by 5% by end-2023 driven by China&#8217;s easing of COVID-19 curbs, strong domestic demand and interest rates staying in less-restrictive territory, said Morgan Stanley economists. The recent banking stress in the U.S. and Europe strengthens the case for Asia&#8217;s outperformance, MS Asia economists, led by Chetan [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":7258,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[],"class_list":["post-7257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3B09G-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/7257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=7257"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/7257\/revisions"}],"predecessor-version":[{"id":7259,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/7257\/revisions\/7259"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/7258"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=7257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=7257"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=7257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}