Emerging Asia still drives global growth

Surging surplus: A cargo ship is seen at a port in Qingdao in China’s eastern Shandong province recently. China’s trade surplus with the United States ballooned to a record US34.1bil in September despite a raft of US tariffs, official data showed on Oct 12, adding fuel to the spiralling trade war. — AFP

IT’S the time of International Monetary Fund (IMF)/World Bank meetings – in exotic Bali!

Unfolding against the backdrop of rising trade barriers and a reversal of capital flows to the developing world, amid higher geopolitical risks, weighed down by instabilities in emerging market economies (EMEs). IMF’s October 2018 World Economic Outlook lowered its global GDP forecasts – down to 3.7% for this year and next (from 3.9% in April).