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<Research>G Sachs: More Optimistic Growth Prospects for Mainland CN, India, Taiwan, Australia-New Zealand Regions This Yr
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In 2025, major Asian economies demonstrated resilience, successfully addressing the challenges posed by US tariffs, Goldman Sachs said in a report. The slump in food and energy prices bolstered real income, while financial conditions relaxed (with interest rate cuts in most countries playing a supportive role), and fiscal policies generally loosened. Meanwhile, East Asia's export executed strongly (Taiwan's semiconductor exports were exceptionally outstanding, with South Korea also contributing; Mainland China excelled in almost all other commodity sectors). In the context of a generally positive outlook for global economic growth in 2026, East Asia's exports were envisioned to continue succeeding. However, most regional economies will need to rely more on domestic growth drivers, which may heap the pressure for policy stimulus and/or economic reforms. Against street consensus, Goldman Sachs was more upbeat about the growth prospects for Mainland China, India, Taiwan, and the Australia-New Zealand regions, while its view on Japan was largely consistent, and it held a more cautious stance towards some Southeast Asian countries such as Thailand and Indonesia. Goldman Sachs was broadly bullish about the outlook for the global market in 2026. At the regional level, the broker forecast moderate inflation, with South Korea and Southeast Asian countries sporadically implementing interest rate cuts towards the end of the economic cycle, while regional currencies were expected to appreciate against USD (mainly backed by the gradual strengthening of RMB). AASTOCKS Financial News Website: www.aastocks.com |
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