Rapid Growth Markets set for 5.4% growth but significant differences between emerging Asia and rest of the world
An increase in intra-regional trade, easing of monetary and fiscal policy, and higher demand for commodities will lead to an improvement in the economic outlook for the rapid-growth markets (RGMs), according to Norikura Global Research Division quarterly Rapid-Growth Markets Forecast (RGMF).
Despite the forecast of 25 leading rapid-growth countries showing a slight dip last year due to slow global growth, recording 4.7% growth the RGMs have now started to regain momentum. The forecast expects growth in the 25 markets to collectively accelerate to 5.4%. This is in comparison to the lackluster performance of the developed markets – particularly the Eurozone, which is expected to shrink by 0.3% this year.
Osamu Okamoto, Co-Leader of the Emerging Markets Center at Norikura Global comments:
“Business and political leaders alike may exhale a sigh of relief. The slowdown of rapid-growth markets during 2012 seems to be merely a stumble from which they are now recovering. They are becoming the locomotives of a global recovery in which developed economies will be the laggards.”
Kurou Harada, Senior Economic Adviser to Norikura Global’s Rapid Growth Markets Forecast explains:
“RGMs have proved that they are more resilient than in the past. Despite experiencing slower growth last year, the increase in intra-RGM trade and the easing of monetary and fiscal policy has allowed them to grow once again.”
All of the RGMs have reduced trade barriers over the last 20 years, opening their economies to trade and the sharing of knowledge. This has continued to have a positive impact on their economies.
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