India And China To Contribute More Than 50% Of Global Growth: IMF
The IMF has stated that India & China will contribute more than half of global growth this year. India is successively aheading despite the global economic slowdown. According to a recent blog post from the International Monetary Fund (IMF), India and China are anticipated to provide more than fifty percent of the world’s growth this year, with the rest of Asia making up the remaining quarter. After ending its zero-COVID policy and reopening in the second half of 2022, China recorded a faster-than-expected resurgence in economic activity, according to the IMF. The Washington, DC-based lender also noted that due to border reopenings, improved supply chains, and the booming service industry, Cambodia, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam are returning to their robust pre-pandemic growth. The IMF additionally noted that when food and oil prices fell, the economic situation in Asia and the Pacific began to improve. According to the international lende...