Asia Economics Update Prabowo risks deepening Indonesia’s economic problems The recent protests in Indonesia underscore deep-seated economic frustrations. Despite solid headline GDP growth in recent years, wages have been stagnant and the middle class has been shrinking... 15th September 2025 · 4 mins read
Asia Economics Update Indonesia: deficit breach could send bond spreads wider Concerns that Indonesia’s government will breach it’s 3% of GDP budget deficit rule have only grown after the replacement of respected Finance Minister Sri Mulyani. While the fiscal risk premium in... 10th September 2025 · 4 mins read
Asia Economics Update Key questions (and answers) on the turmoil in Indonesia This Update answers the key questions on recent developments in Indonesia and the implications for fiscal and monetary policy, as well as the country’s financial markets. We discussed many of these... 10th September 2025 · 6 mins read
Asia Economics Update Is Bank Indonesia’s independence at risk? Concerns about the independence of Bank Indonesia have grown following the announcement of a fresh “burden-sharing” agreement with the government and, most recently, the removal of respected finance... 9th September 2025 · 5 mins read
Asia Economics Update Indonesia protests: assessing the economic fallout The latest bout of unrest in Indonesia is unlikely to deliver a significant blow to the economy, but it is a symptom of underlying economic weaknesses and highlights political risks that could erode... 2nd September 2025 · 3 mins read
Asia Economics Update Korea: worries about financial risks overblown Worries that interest rate cuts in Korea are stoking financial risks look overdone. Property prices across most of the country are either flat or falling, while household debt is declining as a share... 1st September 2025 · 3 mins read
Asia Economics Update Asia Manufacturing PMIs (August) The August PMI readings for most countries in Asia were subdued and we continue to expect manufacturing in the region to struggle in the near term. And with inflation set to remain contained, we think... 1st September 2025 · 3 mins read
Asia Economics Update Korea: On hold, but further easing coming The Bank of Korea left interest rates unchanged today at 2.50% but made clear hints in its statement and press conference that this does not mark the end of the easing cycle. With growth set to... 28th August 2025 · 3 mins read
Asia Economics Update How rising defence spending will impact Asia Defence spending across Asia is set to rise over the coming years, driven in part by increased pressure from the US for its allies to shoulder more of their own security costs. While the overall boost... 27th August 2025 · 4 mins read
Asia Economics Update More to strong Asian exports than tariff front-running Strong growth in exports from Asia in the first half of the year has fuelled talk that, with US tariffs now in place, shipments will fall sharply as tariff front-running ends. But we’re not convinced... 19th August 2025 · 6 mins read
Asia Economics Update Property downturn to weigh on Korea’s economy Weak investment will remain a drag on Korea’s economy over the coming quarters, as a prolonged downturn in the property sector continues to weigh on construction. 18th August 2025 · 2 mins read
Emerging Markets Economics Update Is Trump the mortar for the BRICS? President Trump’s tariff salvo aimed at some of the BRICS economies has led to growing efforts within the bloc to present a united front in the face of US protectionism. But divisions between the... 12th August 2025 · 3 mins read
Asia Economics Update The Philippines: Marcos Jr.’s mid-term scorecard Three years into his six-year term, President Ferdinand Marcos Jr. of the Philippines has passed key reforms to improve the country’s business environment and infrastructure. However, worries about... 12th August 2025 · 3 mins read
Asia Economics Update Indonesia: external risks no longer loom so large Indonesia’s current account position has improved markedly since the onset of the pandemic and we expect the deficit to stay small over the next couple of years. The rupiah will probably depreciate... 6th August 2025 · 3 mins read
Asia Economics Update Korea: consumer spending on the mend Consumer spending in Korea rebounded last quarter and should remain strong over the coming year as government stimulus, rate cuts, and rising wages support demand. But the ongoing downturn in the... 5th August 2025 · 2 mins read
