MOST LUMINOUS EMERGING MARKETS IN ASIA
What makes China, India, and Singapore the most brilliant emerging economies in Asia? Read on to find out.
GDP at market prices (as of 2014): $10.35 trillion
China has made itself a market-focused economy since opening its economic portals in 1980. The Asian nation, considered the second biggest economy in the world, has assumed a more active role in shaping the global economy. Also, the International Monetary Fund awaits the Asian nation to surpass all developed markets in terms of real gross domestic product. But some challenges remain in the country including high poverty rate and uncertainties over its economy brought by changes in its economic structure, aging population, and yuan devaluation. Conversely, China has the capacity to bolster its infrastructure, citing its modestly well-mannered populace, higher spending, and considerable amount of savings.
GDP at market prices (as of 2014): $2.049 trillion
Being the world’s fourth biggest economy, India has exhibited one of the most vital economic developments today. Over the last six and a half decades, the country has become an agricultural authority worldwide because of its breakthrough revolution in agriculture. Not to mention its better health conditions, as well as higher literacy rates and life expectancy. India holds one of the least expensive and youngest labor markets among all emerging countries, with half of its population are age 27 and below. Latest estimates showed its per capita GDP growth might increase to 7.9% yearly over the next decade.
GDP at market prices (as of 2014): $307.9 billion
The ever-progressive Singapore, considered one of the most prosperous countries around the globe, implements the most business-friendly regulations to cultivate open trade policies and open doors for foreign investments. Known for having sound judicial system and despisement for corruption, Singapore’s business ventures cloud the costly labor market, not to mention the workers’ efficiency and hard work. Expect Singapore to record a real GDP of 4.8% over the next 10 years.
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