The future of Asian FTAs and trade blocs after Covid-19
With the Covid-19 pandemic, the Asia-Pacific region (APAC) is facing a new challenge to its economic and trade engine. As the virus kept spreading, global economic issues and public health took center stage in Asia-Pacific countries from the beginning of 2020 until today. As a result, the IMF growt...
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| Format: | Article |
| Language: | English |
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Asia Power Watch
2020
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| Online Access: | http://irep.iium.edu.my/80592/1/80592_The%20future%20of%20Asian%20FTAs%20and%20trade.pdf http://irep.iium.edu.my/80592/ https://asiapowerwatch.com/the-future-of-asian-ftas-and-trade-blocs-after-covid-19/ |
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| Summary: | With the Covid-19 pandemic, the Asia-Pacific region (APAC) is facing a new challenge to its economic and trade engine. As the virus kept spreading, global economic issues and public health took center stage in Asia-Pacific countries from the beginning of 2020 until today.
As a result, the IMF growth forecast for the region stands at zero percent in 2020, the worst performance in 60 years, with China’s growth declining from 6.1% in 2019 to a projected 1.2% in 2020. An even more significant contraction is expected in the US, where GDP growth could drop to -6% in 2020.
This grim outlook raises the question of the future of regional cooperation and trade agreements in Asia-Pacific, and how countries will adapt in the post-COVID-19 world. |
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