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Resilient Asian economies can endure turbulence, says IMF
The Straits Times
|December 11, 2024
Despite challenges, lender believes region has great deal of upside growth potential
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SEOUL - Asian economies are resilient enough to ride out turbulence, International Monetary Fund (IMF) economists said, underscoring the importance of taking turmoil in stride at a time when the region faces various internal risks in addition to President-elect Donald Trump's return to the White House.
Asia remains a key engine of global economic growth, but 2024 has seen a rise in uncertainties that span a range of factors. South Korea's bungled martial law command, Japan's surprising leadership transition and the threat of tariffs from Trump have made the future harder to predict in the region.
While declining to comment on specific countries and political situations, IMF Asia-Pacific division chief Alasdair Scott highlighted the resilience of the region and said it maintains a great deal of upside growth potential.
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