Market Overview

Here's How Asia's Largest Economies Performed In 2016

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Here's How Asia's Largest Economies Performed In 2016

After a tumultuous and volatile start to 2016, Asia's market calmed down and then took a back seat on the international stage, which became fixated on the Brexit vote and then President-elect Donald Trump's run to the White House.

Here is Bloomberg's look at how Asia's largest economies performed in 2016, in order of the size of their economy.

1. China

  • Currency: The Chinese renminbi fell 6.63 percent.
  • Growth: GDP rose 6.7 percent.
  • Notable highlight: China hosted G-20 members and positioned the country as an advocate for free trade.
  • 2017's biggest challenge: Ensure the country's economic recovery amid tough trade rhetoric from Trump's administration.

2. Japan

  • Currency: The Japanese yen gained 2.25 percent.
  • Growth: GDP fell 0.9 percent.
  • Notable highlight: Japan's Prime Minister Shinzo Abe was the first prime minister to visit Pearl Harbor in decades and worked to make progress in territorial disputes with Russia.
  • 2017's biggest challenge: Convincing Trump of the importance of U.S. - Japan relationship.

3. India

  • Currency: The Indian rupee lost 3.06 percent.
  • Growth: GDP rose 7.3 percent.
  • Notable highlight: India's Prime Minister Narendra Modi continued to implement his vision of an India free of corruption and lower trade barriers.
  • 2017's biggest challenge: Boosting the economy amid a new national goods-and-services tax.

4. South Korea

  • Currency: The South Korean won lost 2.87 percent.
  • Growth: GDP rose 2.6 percent.
  • Notable highlight: South Korea's President Park Geun-hye was impeached on December 9.
  • 2017's biggest challenge: Navigating Asia's fourth largest economy in an election year.

Posted-In: AsiaNews Emerging Markets Global Econ #s Markets Media General Best of Benzinga

 

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