Thai, Malaysian outlooks improve on tourism, China recovery: JCER

Economists say U.S. bank fallouts emerge as new concern for Asia

A truck transports a container at a port in Shandong province, China. Economists expect exports of goods and services to China to support ASEAN economies. © Reuters

KENTARO IWAMOTO, Nikkei staff writer

April 2, 2023 14:44 JST

TOKYO -- Economists project stronger-than-expected growth for Thailand and Malaysia this year thanks to tourism recovery and the easing of China's strict COVID-19 policy, according to a quarterly survey compiled by the Japan Center for Economic Research and Nikkei.

But the survey highlighted that the recent fallouts of U.S. banks, including Silicon Valley Bank, were emerging as a new concern for the region, which has already faced risks stemming from global inflation and central banks' rate hikes.