17 Dec 2012
IMF’s Zhu Min: 6.8% GDP Growth Forecast for Emerging Asia in 2013
Deputy Managing Director to Speak at AFF 2013 in Hong Kong
17 December 2012 – Developing countries will continue to be Asia’s “main driving force” in the coming year, with growth in those nations likely to expand by about 6.8 per cent, according to International Monetary Fund (IMF) Deputy Managing Director Zhu Min.
“For emerging Asia, we forecast a roughly 6.1 per cent GDP growth rate for this year, and we see even stronger growth for next year around 6.8 per cent,” said Mr Zhu, adding that intra-regional trade and activities are behind the expansion.
“Asia is forming what I call a ‘pan-Asia integrated vertical supply chain,’ and grabbing more and more global areas into the supply chain,” he said. “For example, you probably won’t believe Brazil today belongs to this supply chain, Chile as well, and also some countries in Africa.”
In his 10 December interview with the Hong Kong Trade Development Council (HKTDC), Mr Zhu also said such intra-regional trade and financial flows are likely to continue and “will be a very important driving force for the growth of the region in the next few years.”
Mr Zhu will be a featured speaker at the sixth Asian Financial Forum (AFF), organised by the Hong Kong SAR Government and the HKTDC. The next AFF will take place in Hong Kong, 14-15 January 2013.
Click here for a full transcript of Zhu Min’s HKTDC interview.
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A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers . With more than 40 global offices, including 11 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and on the mainland, while providing information via trade publications, research reports and online. For more information, please visit: www.hktdc.com