OECD: Economic Outlook for South East Asia
The Organization for Economic Co-operation and Development released its report in Economic Outlook for South East Asia. The report was presented at the ASEAN summit, 2019. This year the title of the report is “Reponding to Environmental Hazards in Cities”
Highlights
- India’s GDP will grow at the rate of 6.6% in the years 2020-2024. This is below than its average growth of 7.4% in the years 2013-17
- Sustaining the efforts taken in the health and banking sectors will be a challenge for India. India will also face difficulties in bridging the disparity between urban and rural infrastructure
- According to the report, China will have to bridge the gap between supply and demand of its digital talent when it steps to improve digital literacy and increase access to digital services
- Among ASEAN countries, Vietnam and Philippines will remain as growth leaders.
- The report predicts that the emerging trade tensions between USA and China will affect emerging Asian market
- In 2016 coal and oil produced 39% of South East’s energy sector. This is to increase to 44% in 2040. OECD recommends implementation of ASEAN Clean Coal Technology for power plants to reduce pollution caused by these factors.
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Month: Current Affairs - November, 2019