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Asia recovery will be world-beating, says UBS

Date: 30 Jun 2009

Regional economies are better placed to mount a sustained recovery because the region boasts better fundamentals, stronger domestic demand and greater available liquidity, says Yonghao Pu, head of UBS wealth management research.

Keywords (click to search): [Asia] [economy] [outlook] [liquidity] [domestic demand]

Aaron Pan

Asian economies are better placed than global counterparts to see a sustained recovery because of stronger domestic demand and greater liquidity, the regional chief investment strategist for UBS wealth management says.

“In the second half of the year, global demand will stabilise and recover and we will see an incremental improvement in Asian exports,” Yonghao Pu, head of UBS wealth management research, told a media briefing in Hong Kong. “However, the difference for Asia is in domestic demand and next year there is likely to be a significant recovery.”

UBS expects the recovery to be led by China, thanks largely to the Rmb4 trillion (US$585 billion) stimulus package introduced last year, and the Swiss bank is forecasting that GDP growth in China...

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