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Asian exports to grow strongly in next two quarters
Singapore, Nov 04: Asian exports should boom in the next two quarters after strong growth in the US, supported by modest expansions in Japan and Europe, Morgan Stanley`s chief economist in the region said today.
Singapore, Nov 04: Asian exports should boom in the next two quarters after strong growth in the US, supported by modest expansions in Japan and Europe, Morgan Stanley's chief economist in the region said today.
Andy Xie also said within two years, China is expected to
replace the United States as the biggest export market for
east Asia.
"We have probably two more quarters of high growth, relatively high growth then it's going to come down with a high base," Xie told reporters on the sidelines of a conference organised by the US investment bank here.
He said US economic growth peaked in the third quarter to September when it surged to a 19 year-high of 7.2 per cent, and should continue to expand by more than four per cent in the next four quarters.
Japan should grow 2.5 per cent and Europe two per cent in the next few quarters.
"Put these stories together (and) our exports should do quite well. At least we have two quarters of relatively good times to come," he said.
In a presentation to the conference, Xie said east Asian exports are restructuring around China to take advantage of the giant nation's sizzling economic growth.
By doing so, east Asian countries avoid competing with China in the US market.
While the US buys increasingly from China to replace imports from East Asia, countries in the region export directly to China. Bureau Report
"We have probably two more quarters of high growth, relatively high growth then it's going to come down with a high base," Xie told reporters on the sidelines of a conference organised by the US investment bank here.
He said US economic growth peaked in the third quarter to September when it surged to a 19 year-high of 7.2 per cent, and should continue to expand by more than four per cent in the next four quarters.
Japan should grow 2.5 per cent and Europe two per cent in the next few quarters.
"Put these stories together (and) our exports should do quite well. At least we have two quarters of relatively good times to come," he said.
In a presentation to the conference, Xie said east Asian exports are restructuring around China to take advantage of the giant nation's sizzling economic growth.
By doing so, east Asian countries avoid competing with China in the US market.
While the US buys increasingly from China to replace imports from East Asia, countries in the region export directly to China. Bureau Report