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Asean Resilient In Global Slowdown

Frederic Neumann, co-head of Asian economics research at HSBC said that while global slowdown is on the horizon, Asean's growth will be "surprisingly resilient" because of strong domestic demand, active fiscal policy and moves toward regional trade liberalisation. He observed that the heightened financial volatility over the past year did not seem to affect domestic demand in Asean economies too much. He said that the negative impact of the US-China trade war, given the reliance on China for trade, would be blunted by increasing regional trade liberalisation.