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Spillovers to Asia-Pacific economies from recent economic developments in China

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  • Shuvojit Banerjee

    () (Macroeconomic Policy and Financing for Development Division, ESCAP)

Abstract

Two significant events in China in the past year have had large spillovers for the region’s economies — the gradual economic growth moderation and movements in its currency. Economic growth in China is forecast to be around 6.5% for 2016 and 6.3% for 2017, continuing the growth moderation from an estimated increase to 6.9% in 2015. Moderating growth in China is being driven partly by a much-needed rebalancing to sustain growth in the medium term, away from investment and net exports and towards consumption, as well as away from manufacturing and towards services. The impact of the growth moderation in China on the region has come largely through weaker trade prospects and declining commodity prices. Key among sectors of domestic investment in China that are expected to assume a lesser role in coming years are real estate investment and infrastructure spending in the more developed parts of the country.

Suggested Citation

  • Shuvojit Banerjee, 2016. "Spillovers to Asia-Pacific economies from recent economic developments in China," MPDD Policy Briefs PB39, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
  • Handle: RePEc:unt:pbmpdd:pb39
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