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China dominates Asian economies
DataLEADS, New Delhi:
From Xi’s China to Duterte’s Philippines, Asian economies have risen as the world’s best countries in terms of GDP.
China, world’s second-largest economy, stands tall with US$ 25.3 trillion and is up by 9% from 2017 followed by India at 10.38 trillion which is up by 9.8% showing growth over the preceding year.
The 2018 World Economic Outlook by International Monetary Fund (IMF) report projects that growth in emerging market and developing economies will raise before leveling off and policymakers should seize this opportunity. IMF has been stressing for long that the good times won’t last long but sound policies can stay.
Philippines with GDP at $955.2 billion has been bypassed by one Asian country after another, yet it has maintained its economic growth over the years and is ranked as top 10 Asian nations.
Economists consider that Malaysia shows flexibility and is performing strongly. On the other hand, Indonesia is one of the emerging market economies of the world and Thailand is a newly industrialised country and shows great development. It shows an increase by 6% from 2017.