As the economic momentum increasingly moves to Southeast Asia, a region with diverse economies and a large workforce, the region is tipped to power growth in Asia for the next two decades, according to IHS Global Insights, a global information company that offers industry and economic analysis. Thanks in part to Asean’s trade with China, the combined economies of the bloc have grown to $2.3 trillion this year – eclipsing that of India, despite having a workforce half the size – and are expected to grow to $4.7 trillion by 2020 and close to $10 trillion by 2030, the report said. A key factor driving such growth will be sustained economic expansion of Indonesia and other top regional economies such as Thailand, Malaysia and the Philippines.
Asean steps up
As the economic momentum increasingly moves to Southeast Asia, a region with diverse economies and a large workforce, the region is tipped to power growth in Asia for the next two decades, according to IHS Global Insights, a global information company that offers industry and economic analysis. Thanks in part…
