The boom in the Asia-Pacific region hides economic scars
US rating agency Moody’s Investors Service has published its assessment of the Asia-Pacific region’s economy amid the ongoing coronavirus crisis.
important quotes
The strong recovery in the Asia-Pacific region hides deep economic scars.
Economic activity in the Asia-Pacific region is likely to recover strongly in 2021 and 2022 compared to recent developments.
Total production in the Asia-Pacific region is likely to lag previous forecasts for the pandemic until 2023 as the pandemic has left deep economic scars.
The Asia-Pacific region is likely to grow faster than the Middle East, North Africa and Latin America in 2021-22, but development will increasingly diverge within the region.
About 30% of Asia Pacific economies will see production fall 2% to 8% below projected pre-pandemic GDP levels by 2023.
More than 40% of Asia Pacific economies will face production losses of more than 8% of projected pre-pandemic GDP levels by 2023.
Rachel Montgomery is a contributor at Prudent Press Agency, covering a wide range of topics including news, politics, business, technology, sports, entertainment, and lifestyle. She focuses on delivering clear, accurate, and reader-focused reporting that helps audiences stay informed about current events and important developments. Her work emphasizes useful information, balanced coverage, and stories that matter to everyday readers, making complex topics accessible and relevant.
