A new McKinsey Global Institute report shows eight of 18 emerging economies identified as outperformers are ASEAN members
Emerging economies have been the engine of global economic growth for the past 15 years, but not all have excelled.
A new McKinsey Global Institute (MGI) report produced for the Singapore Summit 2018, Outperformers: Maintaining ASEAN countries’ exceptional growth, shows how after decades of strong and sustained economic growth, members of the Association of Southeast Asian Nations (ASEAN) stand out for their success: eight of 18 emerging economies identified as “outperformers” are ASEAN members.
However, ASEAN cannot rest on its laurels, the report notes.
To stay ahead of peers and continue to gain ground on advanced economies, ASEAN countries will need to address issues such as shifting trade patterns, demographic changes, advancing automation and artificial intelligence, and growing income inequality in some countries.
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