Asian Economy in 2022
According to the Chinese lunar calendar, 2022 will be the year of the Tiger. Traditionally, the zodiac sign symbolizes strength and ambition, characteristics that well describe the direction and strategies adopted by China in recent years in the international arena.
The year 2022 will be the third "pandemic" year and, according to the estimates of many analysts, it will be the year in which most of the world's economies will attempt to return to pre-covid levels, after the rebound of 2021 following the collapse of 2020.
The International Monetary Fund's most recent estimates released in October 2021 predicted global growth of 5.9% in 2021 and 4.9% in 2022.
The recovery will be driven by Asia, with an aggregate growth of 6.3%. As for the People's Republic of China and India, growth is expected to be 5.6% and 8.5% respectively in 2022. It should be noted, however, that while China maintained positive growth even during 2020, India recorded a decline of over -7.3% of its GDP during the same year. Among advanced economies on the Asian continent, Japan will see GDP increase by about 3.2% in 2022 (higher than the 2.4% projected for 2021), in line with South Korea's expected 3.3% growth. The ten members of the ASEAN bloc are expected to grow by 5.8%, well above the 2.9% expected in 2021. Leading the recovery will be Vietnam (+6.6%), the Philippines (+6.3%), and Malaysia (+6%). Thailand, on the other hand, is expected to show more moderate growth, with +4.5% expected in 2022 after the difficulties of 2021, when the country recorded a rebound of only +1%.