Asia Pacific: Economic overview
China’s economic growth will stabilise from 2018, but Japan’s GDP looks set to weaken.
China’s GDP growth is forecast to decline to 6.5% this year, down from 6.7% in 2016. Stable growth of 6.3% is forecast in 2018 and 2019. The economic rebalancing from investment to consumption slowed in late 2016. At the same time, spending by state-owned businesses grew, helping to support economic expansion. Although strengthening trade is expected to support the country’s economic growth, the withdrawal of government stimulation policies will weigh on growth next year. As the economy stabilises, policies supporting the gas market are expected to result in strong growth in the sector.