I think the year 2020 will have both blue skies and stormy weather. Since I am an optimist, let me begin with the three positive trends and developments.

The first positive trend that I believe will continue this year is the steady rise of North-east and South-east Asia. Although China’s growth rate has come down to about 6 per cent, this is still about three times faster than the United States’ growth rate and five times faster than the European Union’s growth rate. If this trend continues, it is a matter of time before the Chinese economy will surpass that of the US economy in size.

Please subscribe or log in to continue reading the full article. Learn more about ST PREMIUM.

Enjoy unlimited access to ST’s best work

  • Exclusive stories and features on multiple devices
  • In-depth analyses and opinion pieces
  • ePaper and award-winning multimedia content