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Megatopic Asia  China and India are for good reasons in the spotlight as these two rising economic powers hold the promise of becoming the two biggest consumer markets in the world. Likewise, in both countries economic reforms and financial market development have been accelerating opening up a multitude of new investment opportunities. But Asia is more than China and India. A decade after the Asian crisis many investors are rediscovering the potential of the economic tigers of East and Southeast Asia as attractive destinations for business, trade and investment. The region’s diversity creates synergies and opportunities which are yet to be fully realised and newcomers from South Asia or Indochina are introducing further business possibilities. Therefore, this research series provides readers not only with studies, presentations and commentaries on economic and structural issues in China and India, but also takes a look at the prospects and policy challenges of other Asian countries as well. (Click here for an overview of our China Overheating Indicator series.)
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Title | | Size | |
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01.09.2010 | |
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| Understanding China’s consumers
| Abstract: | The goal of this study is to shed light on Chinese consumers’ evolution and behaviour as well as on the composition of this heterogeneous group. China’s urban consumers are growing in number and in spending power, and their outlook is promising. On the other hand, the potential of rural consumers must still be developed, and their income gap with the urban counterparts narrowed. Policies to support income growth, increase disposable income, and help households grow their wealth are starting to be implemented. These policies, coupled with China’s attractive long-term growth prospects, bode well for China’s consumers, who in a few decades could turn out to be the world economy’s key growth driver. | | Topics: | Asia; Asia; Economic growth; Economic trends; Emerging markets; Global growth centres; Macroeconomics; Megatopics; Real econ. trends; Social values / Consumer behaviour | |
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02.08.2010 | |
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16.07.2010 | |
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05.07.2010 | |
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23.06.2010 | |
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| Asian property markets: No significant bubbles – yet!
| Abstract: | After house price bubbles burst in many OECD countries, investors are keeping a very watchful eye for price developments on asset markets that signal a bubble. Overvaluation in housing and, to a much lesser extent, also in office markets is not an Asia-wide phenomenon, but is concentrated in a few countries only, for instance China, Hong Kong and Singapore. No downside risks are being displayed in Indonesian and Korean property markets or in Malaysian office markets. While the risk of a downward adjustment has obviously risen on some markets, we do not expect that this can trigger severe macroeconomic distortions as there is no sub-prime segment in the analysed markets, debt-financing plays a much smaller role than in many OECD countries, and medium to long-term drivers like urbanisation and population growth are still intact. | | Topics: | Asia; Emerging markets; Megatopics; Real estate; Risk / Country Risk | |
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25.02.2010 | |
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| China's provinces: Digging one layer deeper
| Abstract: | Important structural changes are happening in China which are not visible when looking at nationwide figures only. We analysed recent developments on the provincial level and conclude that opportunities exist as many inland provinces offer labour cost advantages over the Coast or might serve as springboards to neighbouring countries. Moreover, higher value-added production and increasing importance of non-wage competitive factors should help to increase the importance of the services sector in coastal provinces. Last but not least private consumption offers catch-up potential especially in non-coastal provinces but pinning hopes on China to take the place of the US consumer is asking too much.
| | Topics: | Asia; Asia; Emerging markets; Megatopics | |
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15.02.2010 | |
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| The middle class in India: Issues and opportunities
| Abstract: | As argued in a previous study, the rise of a large middle class in Asia could become a key source of sustainable domestic consumption there, with potential repercussions for the global economy. In this study we focus on measurement and development of this demographic group in one of the biggest Asian economies, India. India's middle class is already a growing consumer market and contributes to the country's robust economic growth. At the same time, the rise of the middle class presents some challenges. One is improving the match between the skills of this group and the demands of the marketplace. Another issue is increasing middle class engagement in India’s political system. Despite the negative impact of the financial crisis, the Indian middle class remains optimistic about their own future and that of the Indian economy. | | Topics: | Asia; Asia; Emerging markets; Macroeconomics; Megatopics; Social values / Consumer behaviour | |
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27.10.2009 | |
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| Trends in India's corporate financing
| Abstract: | In the past several years, Indian corporations have utilised a variety of sources such as equity markets, foreign direct investment, and private equity to raise capital. Capital availability through these sources was significantly affected by the crisis as both domestic and foreign investors turned risk averse. Small and medium enterprises are being particularly hard-hit. Although markets are rebounding and investments are rising once again, it may take until 2010 for capital flows to fully recover. This paper provides an overview of the various sources of corporate financing, the impact of the crisis, and the outlook over the next year. | | Topics: | Asia; Asia; Emerging markets; International financial system; Macroeconomics | |
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16.10.2009 | |
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| Taking stock of China's growing ties with emerging markets: What it means for geopolitics
| Abstract: | China has grown closer economic and business ties with emerging markets across the globe, raising its profile and enhancing its economic and political clout. Thus far, China's interests have been driven mainly by its thirst for energy and commodities – in short, commercially-driven. It is pointless for traditional powers to try to stop China's growing influence. It would be more productive if traditional powers responded to China's emergence by enhancing their own positive engagements with EM regions. | | Topics: | Asia; Asia; Emerging markets; Globalisation | |
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23.09.2009 | |
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Publications Articles on economic policy appear in the following periodicals:
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