IMF: ASIAN ECONOMIC GROWTH SLOWDOWN

ID

550180

SHOOT DATE

18 Oct 2019

SHOOT LOCATION

Washington, DC, United States

PRODUCTION COMPANY

IMF

DESCRIPTION
IMF: ASIAN ECONOMIC GROWTH SLOWDOWN
SHOTLIST
1. Wide Asia and Pacific Department briefing
2. Mid reporters at briefing
3. SOUNDBITE: (English) Changyong Rhee, Director of the Asia and Pacific Department of the IMF
“Growth softened in the first half of 2019, driven by a large decline in fixed investment and exports. Looking ahead, Asia is expected to grow at 5.0 percent in 2019 and 5.1 percent in 2020, which is the slowest growth pace after the global financial crisis. Meanwhile, inflation across Asia is projected to remain subdued, reflecting softening demand.”
4. Close reporter asking question
5. SOUNDBITE: (English) Kenneth Kang, Deputy Director of the Asia and Pacific Department of the IMF
“The Q3 GDP numbers for China came out and they showed that growth had slowed to 6.0 percent in the third quarter, down from 6.2 percent in the second quarter, which is broadly inline with our WEO baseline forecast. In this year’s WEO, we forecast China’s growth to slow modestly to 6.1 percent this year, 5.8 percent next year. This growth slowdown reflects several factors, including the escalation of trade tensions, the global slowdown in manufacturing and investment, but also the strengthening of financial regulations in China, which has helped keep growth on a sustainable path.”
6. Close reporter listening to news conference
7. SOUNDBITE: (English) Changyong Rhee, Director of the Asia and Pacific Department of the IMF
“We believe India still has a limited fiscal space, so they have to be careful. We actually think they are, we support their corporate income tax cut because it has a positive impact on investment. But, on the other hand, India has to address continued fiscal consolidation and secure the long-term stability of their fiscal conditions.”
8. Mid reporters
9. SOUNDBITE: (English) Changyong Rhee, Director of the Asia and Pacific Department of the IMF
“Asia is definitely the most vulnerable region for climate change. And then also, climate change is not just a global issue. In many countries we are facing the quality of life really deteriorating. China, air quality isn’t easy to improve. Big questions. If you look at many infrastructures – flood in Thailand whenever the rain comes, all the traffic conditions. Even an advanced economy like Japan, we are not very safe. So, there is an immediate need for each country to address this issue. Third, also, historically it’s not our fault but at this moment it’s true we cannot deny that the largest emissions are coming from Asia.”
10. Mid reporters
11. Wide IMF officials ending briefing
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