The International Monetary Fund predicts growth of 1.2% for China and 1.9% for India in 2020, despite the coronavirus pandemic.
– the world's 2nd largest economy – will scrape through 2020 without going into recession, the IMF said in its latest World Economic Outlook."Emerging Asia is projected to be the only region with a positive growth rate in 2020 , albeit more than 5 percentage points below its average in the previous decade," the IMF said.
"Other regions are projected to experience severe slowdowns or outright contracts in economic activity.", Asia's 3rd biggest economy, is also expected to grow at 1.9% in 2020 before surging 7.4% next year. Indonesia too is expected to just stay above water, gaining 0.5% this year before an 8.2% bounce in 2021.
However, more advanced economies in the region – Japan, South Korea, Australia, Singapore, and Hong Kong – will dip into recession, according to the forecast.and Vietnam are expected to still see modest growth this year.
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