Asia is the region with the highest GDP growth in 2019. Image courtesy of Adsale
Data source: International Monetary Fund (October 2019)
Asia leads the world in economic vitality
Asia has become the largest cluster of emerging economies in the 21st century. This region boasts more than half of the world’s population, expanding middle class, increasing consumption, and continuous industrial transformation. Asia’s fast rise remains attractive despite the economic slowdown. Asia currently represents more than a third of the global economy, and its self-reliance continues to strengthen – trade within Asia far exceeds the total of Asia’s trade with other regions such as North America and the Eurozone.
Attracted by the region’s momentum, foreign investment continues to grow in Asia. According to the “Progress of Asian Economic Integration Annual Report 2019” by the BoAo Forum for Asia, investments are retreating from developed economies, especially the capital market in the U.S., and instead going into emerging Asian markets. China’s Ministry of Commerce announced in November 2019 that China is gaining more foreign investment, not less, despite the sluggish global investment scene. During the first three quarters of 2019, China established more than 30,000 new foreign-invested enterprises and utilized 683.2 billion yuan of foreign investment – up 6.5% year over year.