Asia Will Hold Global Growth Crown for Next Decade at Least: Q&A
- Region will remain biggest contributor to global GDP growth
- Overall share of GDP growth may fall as other regions expand
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Asia will remain the world economy’s powerhouse for the next decade even as other regions pick up speed, according to Changyong Rhee, the Asia-Pacific director at the International Monetary Fund.
A deepening recovery in the U.S. and Europe has helped fuel the world economy’s best performance in years, with 75 percent of the globe enjoying an upswing. The Asia-Pacific region is leading the way and is set to account for 63.3 percent of global growth in 2017, Rhee said in an interview in Washington on Friday. China is forecast to contribute 34.1 percent and India 13.8 percent on a purchasing power parity basis.