Key Messages
- FIRMING GLOBAL GROWTH – CYCLICAL OR STRUCTURAL
- BALANCED RISKS TO GLOBAL OUTLOOK
- MALAYSIA: FIRM ON GROUND
- UNLOCKING E-COMMERCE POTENTIAL
Global growth UPSWING to continue in 2018
- Global economic growth is BROADLY BASED and SUSTAINED in 2018. Better growth estimates for the US.
- More POSITIVE PERSPECTIVES for emerging Asia -sustained domestic demand and firm commodity prices
- GLOBAL TRADE is showing strong growth momentum (4.6% in 2018; 4.4% in 2019 (4.7% in 2017). GLOBAL TRADE TO GDP RATIO bounced back to 1.3% in 2017 (0.8% in 2015-16)
- CAUTION IN FINANCIAL MARKETS. Expectations of LESS GLOBAL LIQUIDITY can reduce flows to emerging markets
- CENTRAL BANKS continue to make progress towards INTEREST RATE normalization
- GLOBAL RISKS – rich market valuations; rising trade tensions; aggressive interest rate hikes; and bloated debt
