The News
Asian nations are closely eyeing China’s moves to inject a massive stimulus into its economy. So far, details on Beijing’s plans have been “underwhelming,” research firm Trivium said. But Asia’s economies are hoping the stimulus provides a tailwind for the entire region by targeting structural challenges in China rather than just a “splashy” handout to achieve Beijing’s 5% annual growth target, analysts told The Wall Street Journal.
China has been a source of regional growth for the last several decades, but its prolonged slowdown threatens trade, tourism, and manufacturing for Asia. Nearby economies, though, have so far weathered the storm and grown: Indonesia has seen strong domestic consumption, while Singapore, Vietnam, and Malaysia have become key tech hubs.