ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Economy

Asia spending boom provides buffer against trade war shocks

Even as tariff spat bites, trade and FDI are declining in importance for the region

 Yangon's Junction City mall is a popular downtown meeting and shopping place for young and old. (Photo by Simon Roughneen)

JAKARTA -- Rising domestic spending across Asia is making many countries in the region less reliant on trade and foreign direct investment, providing them with a buffer against external shocks such as the ongoing tariff spat between Washington and Beijing.

While goods imports to and exports from Asian countries rose 14.2% and 11.2%, respectively, in the five years through 2017, they declined relative to the wider economy due to the region's continued world-beating growth, which hit 5.6% last year, according to new data from the United Nations Conference on Trade and Development.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more