Asia needs to focus on productivity to lead global growth1 min read 30 May 2023, 11:07 PM IST
It should devise policies for the fair sharing of technology-driven gains and make Keynes’ call come true.
China’s recent economic indicators confirm it’s too early to say if its reopening and growth rebound can re-establish its global leadership. The pick-up in its consumption in the first quarter has not led to a broader manufacturing and construction boom, and investment has fallen short of expectations. Is this indicative that Asia cannot drive the global economy, whose growth is seen slowing to 2% with recession risks rising for the US and EU?