Asia outlook

As China‘s economy continued its slowdown last year the economic fallout from a protracted downturn in the world’s second largest economy was clearly evident in weakening exports and sluggish growth rates across Asia. Economies like Singapore have been hit hard by weaker export demand from China, while a downturn in mainland visitors has battered tourism-related sectors in Hong Kong. Elsewhere, Taiwan did not even manage 1.0% growth in 2015 as the island struggled with waning exports and a slump in industrial output. And with global commodity prices remaining in the doldrums, economies heavily dependent on commodity exports such as Malaysia will likely face further tough challenges this year.

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