2022 Annual Report From Asian economic prospects and integration process
The following is the 2022 Annual Report From Asian economic prospects and integration process recommended by recordtrend.com. And this article belongs to the classification: Chinese economy, research report.
The report shows that the Asian economy will still be in the process of recovery in 2022, but the growth rate may converge. The economic growth rate of Asia in 2022 is likely to be lower than the current IMF forecast (5.2%). Meanwhile, covid-19 report points out that six factors that affect Asian economic growth should be concerned: first, the development trend of new crown pneumonia epidemic. Second, the geopolitical situation after the conflict between Russia and Ukraine; Third, the rhythm and intensity of monetary policy adjustment in the United States and Europe; Fourth, the debt problem of some countries; Fifth, the supply of key primary products; Sixth, the change of government in some countries.
In 2021, Asian economic growth rebounded strongly. According to the estimation of the International Monetary Fund (IMF) in January 2022, the weighted real GDP growth rate of Asian economies in 2021 was 6.3%, an increase of 7.6 percentage points over 2020. Among the 47 Asian economies, except Myanmar, Afghanistan, Bhutan and Iran, the growth rate of other economies is higher than that in 2020. According to the standard of purchasing power parity, the proportion of Asia’s total economy in the world in 2021 increased by 0.2 percentage points to 47.4% compared with 2020.
In terms of employment, the overall unemployment rate in Asia has declined, but it is still high. According to the International Labour Organization (ILO), the average unemployment rate in Asia remained at 5.15% in 2021, down 0.5 percentage points from 2020. In terms of income, most Asian economies have continued their income support policies in 2020, but the epidemic still has a significant impact on the labor market. In terms of prices, inflation in Asia continued to rise.
In January 2021, the overall inflation rate in Asia was 4.2%; It rose to 7.6% in December 2021, and inflation in many economies exceeded 10%. The overall performance of foreign trade was outstanding, and the scale reached a new high. In the first three quarters of 2021, the total trade volume of goods in Asia was US $11.9 trillion, with a year-on-year increase of 29.7%.
Asia’s ability to attract foreign investment has been continuously strengthened. In 2021, the foreign direct investment attracted reached 696 billion US dollars, an increase of 18% compared with 2020. From the perspective of the financial market, the stock index rose as a whole, most currencies depreciated relative to the US dollar, the yield of government bonds rose, the real estate prices of most economies rose, and the risks in the banking sector were generally controllable.
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