Southeast Asia to Surpass China's GDP Growth
Southeast Asia is set to outpace China's economic growth over the next decade, according to a new report. The GDP of six ASEAN countries is projected to grow by 5.1% annually until 2034, compared to China's 3.5% to 4.5%, driven by favorable demographics and global supply chain shifts.
A recent report from Angsana Council, U.S. consultancy Bain & Co., and Singapore's DBS Bank forecasts that Southeast Asia will surpass China's GDP growth and foreign direct investment over the next decade.
The GDP for Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam is projected to increase by an average of 5.1% annually until 2034, compared to China's projected growth of 3.5% to 4.5%.
This growth is attributed to favorable demographics and a shift in global supply chains.
The GDP for Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam is projected to increase by an average of 5.1% annually until 2034, compared to China's projected growth of 3.5% to 4.5%.
This growth is attributed to favorable demographics and a shift in global supply chains.
