Photo: ReutersBetween 2002 and 2017, economic growth in Asia averaged about 6% annually, outpacing the global economy as a whole, which expanded about 4% on an average. This has, in turn, been driven in no small part by the region having seized opportunities for global trade and investments. It is notable that merchandise trade in Asia (in value terms) grew at an average of 17.5% between 2002 and 2008 before the global financial crisis struck. Trade wars blame gameBoth parties have a role to play in the US-China and overall global trade tensions. Implications for AsiaFor now, the global trade environment will be much less buoyant and much more uncertain than it was in the past.

Source: Mint May 23, 2018 01:41 UTC