A Moody Analytics report looks at how the global slowdown will impact the Asian economies.
Asian economies enter 2012 in the middle of a global economic slowdown due to tighter domestic monetary conditions and weaker export demand from Europe and the US. However, according to Moody Analytics, Asia-Pacific economies will grow in 2012, especially in the second half. This is because the region's fundamentals are sound and its policymakers have ample ammunition to support growth.
The major driver of the growth in Asia is China, as it is the number one export destination for regional countries. Though recent Chinese data confirm that the economy is slowing, it is a government engineered one. The stiff monetary conditions, fiscal tightening and property restrictions are slowing the economy at a manageable rate. Moody Analytics expects the country's GDP growth at 8.7% in 2012 driven by public infrastructure spending and firm domestic demand.
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