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How quickly could Asia’s economies grow this year?

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Business trends in Asia

In the news

•

‘Underachieving potential.’ Fortune notes that Asian economies are growing faster than those in other parts of the world, but a World Bank report finds the region’s forecasts disappointing. Asian economic growth will slow to 4.5% in 2024, compared with 5.1% growth a year earlier. Debt, trade barriers, and diminishing growth in China could potentially dampen economic growth, the World Bank finds. The region is “underachieving its own potential,” says a World Bank chief economist. [Fortune]

•

Eyeing Southeast Asia. Leaders in the US and Europe are seeking to strengthen economic ties in Southeast Asia as they aim to become less reliant on East Asia, Bloomberg reports. A European trade envoy says Southeast Asian nations have “huge, huge potential,” as they represent a key midpoint in Asia–Europe trade routes and a significant collective market of their own. Meanwhile, US companies are investing in helping one Southeast Asian country become more competitive in the semiconductor industry. [Bloomberg]

“If you ask European businesses about their domestic economic outlook, it’s still a world away from the general backdrop of growth across most of Asia.”

On McKinsey.com

•

Asia’s evolution. As the world’s largest and fastest-growing economy, Asia has significant potential to shape the next normal for global business. Financial Times’ Asia editor, Robin Harding, and Fortune’s executive editor of Asia, Clay Chandler, joined our Future of Asia podcast—hosted by Gautam Kumra , chairman of McKinsey’s offices in Asia—to discuss factors that could propel Asia’s economic evolution. In thinking about how Asia may affect the future global economy, Harding and Chandler emphasize the different mindsets of Asian leaders and their global counterparts when it comes to key issues―including generative AI (gen AI).

•

Time to transform. Harding says that differences in regulatory culture are leading Chinese tech companies to roll out their gen AI platforms more cautiously, rather than “releasing them into the wild,” as the US has done. CEOs and technology leaders across Asia are carefully wrestling with the effects gen AI may have on their businesses, Chandler adds. The technology is poised to have transformative impacts on multiple industries throughout Asia. Hear the full Future of Asia podcast to learn key trends shaping business news in Asia in 2024 and beyond.

Grasp Asia’s economic, AI growth

—Edited by Eric Quiñones, senior editor, New York

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by "Only McKinsey" <publishing@email.mckinsey.com> - 01:48 - 29 Jul 2024

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The tech trends that matter most: A leader’s guide

How quickly could Asia’s economies grow this year?

Business trends in Asia

In the news

“If you ask European businesses about their domestic economic outlook, it’s still a world away from the general backdrop of growth across most of Asia.”

On McKinsey.com

Archives

in

info@learn.odoo.com

Backlinks Presentation from Noman SEO.

The tech trends that matter most: A leader’s guide

How quickly could Asia’s economies grow this year?

﻿Business trends in Asia

In the news

﻿“If you ask European businesses about their domestic economic outlook, it’s still a world away from the general backdrop of growth across most of Asia.”

On McKinsey.com

Business trends in Asia

“If you ask European businesses about their domestic economic outlook, it’s still a world away from the general backdrop of growth across most of Asia.”