Recently the World Bank released the latest “East Asia and Pacific Economic Update Report.”
In the report, the World Bank predicts that in 2021, China will lead the economic growth of East Asia and the Pacific. However, the World Bank also emphasized that the economic recovery in the region is uneven, and many countries have not yet escaped the epidemic, so the final economic growth rate Expectations may be lower than expected.
Specifically, the World Bank predicts that in 2021, the GDP growth rate in East Asia and the Pacific will increase from 1.2% last year to 7.4%. In addition, the bank also predicts that if China is not calculated, the region’s GDP growth rate this year will only be 4.4%. Of course, although this is a significant improvement from the 3.7% recession last year, it is still lower than the long-term average.
What about the specific GDP of East Asian countries?
In this regard, the World Bank predicts that among these countries, China and Vietnam will perform the best economically in 2021. In terms of specific data, in 2020, as one of the few countries that were only slightly affected by the epidemic and did not fall into recession, China’s GDP growth rate was 2.3%, and this year’s GDP growth rate will further increase to 8.1%; meanwhile, in 2021, Vietnam’s GDP The growth rate will also increase from 2.9% last year to 6.6%.
Of course, the World Bank report also predicts that in 2021, the final economic performance of various countries will depend on the degree of containment of the new crown, the ability to use international trade to recover, and the scale of government fiscal and currency support.
What do you think the GDP growth rate will be for these and other countries in Asia in 2021?