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Moody's latest (presented at Moody's 2015 Outlooks for Asian Sovereigns, Corporates and Banks Briefing held today in Hong Kong.) …
Global growth outlook brings challenges to Asia Pacific, but region's strengths prevail
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In summary …
Says Asia will be resilient to global macroeconomic challenges in 2015
- With less vulnerability to external shocks than other emerging economies
- With sound fundamentals that compare well with many regions in the world
- policy space to support growth through accommodative domestic monetary and fiscal policies
- region's status as a net oil importer and the opportunity for governments to pare back subsidies mean that falling crude prices will be credit positive for much of the region.
- “As global growth remains subdued with brighter prospects in the US offset by lacklustre growth in the Euro Area and Japan, and China's ongoing slowdown, Asia's resilience will become increasingly evident,” says Michael Taylor, a Moody's Chief Credit Officer.
Global challenges for 2015 include:
- US Federal Reserve taking the first steps to normalize monetary policy
- Sustained low commodities prices
- China's rebalancing
Key risk for Asia:
- A deeper-than-expected property downturn in China
- High leverage in certain sectors (elevated household debt to GDP ratios in certain areas in Asia—Malaysia, Thailand, and Singapore, among others—could become a concern if interest rates spike during the year,)
- Renewed eurozone concerns
- Spike in global financial market volatility
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.