This week’s Global Guru is written by my friend Carl Delfeld of Chartwell Asia. Carl is one of the most insightful observers of Asian economies in the United States. With global stock markets starting to make a comeback, Carl’s insights into the recovering economies of Asia are particularly timely.
Much of Asia has downshifted to a slower growth rate over the past four years.
According to International Monetary Fund data, nominal growth in gross domestic product (GDP), in U.S. dollar terms, in the Asia Pacific has fallen from 14.8% in 2011 to 1.2% today. In China, the slowdown over this time period was from 24.1% to 9.9%, and in India from 7.9 to 6.4%. In Japan, it fell from 7.5% to -10.6%.