What’s happening in South-East Asia?
South-east Asia is being pushed by China to be more efficient in its efforts to improve its economy and its position in the region.
The economic growth in Asia has been steadily falling over the past few years, and is expected to slow significantly in the coming years.
China, the world’s second-largest economy and second-biggest greenhouse gas emitter, wants to become a global economic power by the middle of the century.
Analysts have predicted the slowdown will hit China hard.
The latest IMF data released on Thursday showed South-Eastern Asia’s gross domestic product in 2020 was just $2.8 trillion, down from $2,965 billion in 2015.
And while growth in the regions economy has been rising steadily, China is still the biggest importer of goods and services in the Asia-Pacific region.
The South-South trade gap between China and the world has widened to $US6.7 billion ($7.1 billion), from $US4.4 billion in 2019.
It is the biggest trade gap in Asia, accounting for about half of the global total.
While the data is a sign that the region is moving towards becoming a manufacturing hub, it will take a lot of time to make that happen, said Nicholas Blanchflower, chief economist at Capital Economics.
South-east Asian nations have been in an economic downturn for decades.
The region has a long history of rising inflation, and a weak economy that has seen a large number of expats and Chinese citizens leave the region for other parts of the world.
Some countries have responded by introducing their own currency, while others have raised their currency exchange rates, according to Blanchflowers.
In South-West Asia, Thailand, Vietnam, Malaysia and Brunei have introduced a local currency, which has been used as a local exchange for about two decades.
However, the region has yet to see a real change in its currencies.
Even though there are still many expats from the region in other countries, they have not really changed their currencies, said BlanchFlowers.
The region has been suffering from the consequences of the Great Recession.
The IMF estimates that the economy shrank by 10% in real terms between the end of 2008 and the end-2014, while the unemployment rate rose to a record high of 24%.
The regional economies are facing challenges from China and India as well.
China, which is the world and most important market for South-Eastern Asia, has become more aggressive in its trade with the region, pushing prices up.
India has been trying to increase its trade balance with the rest of the region by cutting its subsidies, which could also lead to a rise in the price of its exports.
But despite the trade imbalance, South-eastern Asia has had a better growth story than the rest.
Its economy grew at an annual rate of 5.7% in the year to end-March 2019, compared to 3.6% in 2014, according the IMF.
A lot of the growth was in manufacturing, as the region gained employment.
China has also become a major exporter of manufacturing equipment.
According to the IMF, China’s economic growth accelerated in the second half of this year, as its manufacturing sector increased, with manufacturing employment up 11.2% compared to the year-earlier period.
Overall, the growth in South East Asia has also been faster than the overall economic growth.
On the other hand, India has seen some slower growth, mainly due to a fall in its import demand, Blanchsflowers said.
India, on the other side, has been increasing exports.
The growth in trade was a big reason behind the rise in Indian economic growth during the past year.
India exports have grown at an average annual rate, of 8.4% in 2018, compared with 7.8% in 2019, the IMF said.