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EWC Senior Fellow Michael Plummer writes in the East Asia Forum that the US economy’s resilience in 2023 and seeming path to a ‘soft landing' from increased inflation has had a positive impact on economies in the Asia Pacific region. He notes, however, that significant risks remain for 2024, including possible fallout from monetary policy changes, fiscal dysfunction, geopolitical conflicts, and the polarizing US presidential election.
“In short, the slow but positive growth and falling inflation in the United States is a reasonable scenario and good news for the Asia Pacific,” Plummer writes. "With the 2023 soft landing, US imports from the Asia Pacific — an important source of growth for this very outward-oriented region — will likely increase in 2024. … But we live in a time of extraordinary uncertainty and disruptive storms may be brewing.” Read the full article.
Photo: Stock market display on a Hong Kong street. Nikada/Getty Images
EWC Senior Fellow Michael Plummer writes in the East Asia Forum that the US economy’s resilience in 2023 and seeming path to a ‘soft landing' from increased inflation has had a positive impact on economies in the Asia Pacific region. He notes, however, that significant risks remain for 2024, including possible fallout from monetary policy changes, fiscal dysfunction, geopolitical conflicts, and the polarizing US presidential election.
“In short, the slow but positive growth and falling inflation in the United States is a reasonable scenario and good news for the Asia Pacific,” Plummer writes. "With the 2023 soft landing, US imports from the Asia Pacific — an important source of growth for this very outward-oriented region — will likely increase in 2024. … But we live in a time of extraordinary uncertainty and disruptive storms may be brewing.” Read the full article.
Photo: Stock market display on a Hong Kong street. Nikada/Getty Images
