The Growth rate of Asia-Pacific region in 2019 is projected to be 5.0%,0.4 percentage lower than the growth rate of 2017 and is the record low since 2010. The growth in Asia-Pacific region has continued its downward trend since mid-2018. So far,it has not reached its trough. Affected by trade frictions and sluggish external demand,most countries in the region have experienced slower economic growth in 2019. Inflations were lower,currencies depreciated slightly,and the current accounts remained broadly stable. Among the major economies in the region,South Korea,Canada and Australia has experienced significant downturns and the Indonesia has faced downward pressure. The Asia-Pacific region will continue to look for its trough in 2020. Pressures mainly come from external uncertainty and China’s economic slowdown. Economic policy and its coordination should follow the principle of avoiding hard landing and deviation from potential growth.
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