The IMF now expects Vietnam to have 2.4% GDP growth in 2020 and 6.4% in 2021 while the world will average -4.4% GDP in 2020 and could bounce back 5% in 2021. The world would normally see 3-4% GDP growth in each year. 2020-2021 will the world miss the 8% GDP expected over the two years to end up flat.
Taiwan’s GDP is expected to grow 1.8 percent in 2020 and 4.2 percent in 2021.
Although Thailand also had very few COVID cases their tourism dependent economy took large hit. Thailand is expected to have -7.7% GDP growth in 2020 and 4% in 2021.
There are a wide range of forecasts for India. India is looking at -10% to -12% GDP growth in 2020 and a possible strong recovery in 2021 at 7-10%. India has had some of the highest national levels of COVID cases.
If the projections hold, China will gain 10% over 2020 and 2021 compared to India and the rest of the world.
ASEAN and South Korea GDP will gain 2-9% versus India and the rest of the world.
SOURCES- IMF, Reuters, Worldometers
Written By Brian Wang, Nextbigfuture.com
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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