Analysts at Standard Chartered point out that while Asian economies’ performance has been robust, other regions have disappointed.
“Global growth in recent years has been weaker than our 2010 projections, leading us to lower our 2010-30 annual growth forecast to 3.1% from 3.5%.”
“We continue to expect Asia, led by China, to power global growth. Seven of the top 10 economies in 2030 (in PPP terms) will likely be current emerging markets. We estimate that India and Indonesia will join China in the top five.”
“Productivity growth is a key differentiator across economies. Weak productivity growth in some economies seems to be linked to slowing reform momentum since the global financial crisis. Pressure to reform is returning now that the QE era is over. Ageing populations will increasingly weigh on global growth.”