CATEGORY: Economic Roundups
Largely thanks to the recovering prices of some key commodities, the region recorded a positive first quarter in 2018, with the IMF forecasting Latin America and the Caribbean’s GDP growth for the year to reach 2%. Currency volatility remains among the primary challenges, however, offsetting some gains. The economy is thus centre stage in countries headed to the polls this year, potentially ushering in a period of economic transformation in several of the region’s major players.
Against a backdrop of China’s rebalancing towards consumption-driven growth and the looming threat of global trade war, executives who participated in the inaugural Business Barometer: OBG in ASEAN CEO survey were resolutely positive about the regional prospects for expansion and investment in the near future.
With the Belt and Road Initiative (BRI) now firmly enshrined in the Chinese Communist Party constitution, it is safe to assume that this flagship project of President Xi Jinping will continue long after the country’s most powerful leader since Chairman Mao Zedong officially steps down, whether that happens in 2023 or not.