Economists Warn Of Global Economy Weakness Ahead, Already Visible in Asia
Several economists from leading banks and financial institutions in South Asia cautioned Thursday against overinterpreting a few signs of recovery in the past weeks. They warned the global demand outlook remained subdued.
We aren’t convinced that this rebound will be sustained given the still gloomy outlook for foreign demand, Capital Economics analysts said in a note.
We expect most developed economies to slip into recession this year and think that the downturn in Chinese exports still has some way to run before it reaches a bottom later this year, analysts
The relatively strong performance is temporary and unlikely to sustain given the weak global macro outlook, they added.
Lv Daliang, spokesperson of the General Administration of Customs, warned conditions could worsen going forward.
The external environment is still severe and complicated at present, Mr. Lv told reporters in Beijing on Thursday. Sluggish external demand and geopolitical factors will bring greater challenges to China’s trade development, he added.