Asia needs pension reforms for sustainable growth

According to Allianz chief economist Ludovic Subran (pic), while Asia has gained a headstart over other regions, it cannot ignore the looming demographic crisis.

ASIA is in a good starting position to thrive during the 2020s as it weathered the pandemic crisis in relatively good shape.

Allianz SE notes while economic activity in the region declined by less than 2% in 2020, gross domestic product (GDP) contracted by more than 4% at the global level and by almost 8% in Latin America.