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Comments on the Asian Economy’s Prospect and Policy Responses

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Frame of Image BRL GBP MXN CAD TRY
10 0 -10
INR
IDR
13.1Q
13.2Q
13.3Q
13.4Q 2
Source: Ministry of Strategy and Finance, Bank of Korea / Bloomberg
2014 Economic Growth Expectation
2013e
2014e 45 65.2% 3.9%
Jobs Created (in 10 thousands)
Employment Rate (ages 15-64)
38 64.4% 2.8%
Economic Growth Rate
Consumer Price Index
1.3%
2.3%
Current Account Surplus
USD 70 bn
USD 49 bn
3
Challenges for the Korean Economy
Weak domestic consumption and investment Private Consumption
(‘04 1/4=100, real, SA)
Facility Investment
(‘04 1/4=100, real, SA)
Promote consumption and investment by increasing domestic demand 3-Year Economic Innovation Plan
(to be released at the end of February)
4
On China
Smooth Transition Needed
Major Economic Indicators(14.2)
2013.12 Ser vice PMI Manufacturing PMI NonManufacturing PMI CPI PPI 50.9 51.0 54.6 2.5 -1.4 2014.1 50.7 50.5 53.4 2.0~2.2 -
Source: National Bureau of Statistics of the PRC
5
On Japan
Importance of Reforming the Economic Structure
Household financial asset allocation in Korea (end-2012)
26.7 45.5 27.1
Cash&Deposit
Securities
Insurance
Source: Bank of Korea
6
Economic Outlook and Challenges in Asia
Risk Factors: Political Instability and QE Tapering
Economic Growth Rate of Developing Asia (2013 -> 2014)
IMF WEO (14.1) ADB Outlook (13.12) 6.5% → 6.7% 6.0% → 6.2%
7.7%→7.5% 2.8%→3.7%
1.7%→1.7%
4.4%→5.4%
7
• Source: IMF WEO update, January 21, 2014. (Korean data from October 2013 WEO as it was not included in 2014 WEO)
Key Issue – QE Tapering
2014 will be the Year


Full Text
Title Comments on the Asian Economy’s Prospect and Policy Responses
Similar Titles
Material Type Proceedings
Author(English)

Lee, Chang Jae

Date 2014-02
Event

Strengthening Economic Cooperation in ASIA

Pages 10
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding 대외경제정책연구원(KIEP); 아시아개발은행연구소(ADBI)