(VOVworld) – The 2017 Asian Economy Forward-Looking Indicator shows positive signals for the Asia-Pacific economy. The survey was conducted by the BFA, SAIC-GM, Cadillac and Caijing magazine.

Chinese and foreign leaders attending Boao Forum for Asia 2017 Annual Conference

The indicator, released at the Boao Forum for Asia (BFA) Annual Conference 2017 in Hainan, China, shows that Asia’s economic growth index in 2017 has doubled 2016. The report incorporates evaluation and estimation reports on economic growth, prices, employment, international trade, and securities markets in Asia.

Economists said Asia’s economy will increase sustainably with improvements in employment, international trade, and investment environment. India and ASEAN’s fast economic growth have driven regional growth despite China and Japan’s economic slowdown. US protectionism, Brexit, and elections in EU countries have challenged Asia’s economic prospect. Asian countries have to prepare for further financial risks from public debt, a property market bubble, and external policies of world powers, such as a FED interest rate increase or oil price fluctuations.

China has adopted a slow economic growth model based on consumption, services, and added values and the government has dialed back excessive industrial productivity. This will impact new emerging economies that have close financial relations with China. Japan, Asia’s 2^nd biggest economy, is experiencing internal instability, high unemployment, and a labor shortage due to an aging population.

Emerging economies in Asia-Pacific are hailed as a driving force for regional growth at an estimated rate of 5%. The report estimates for the Philippines a growth rate of 6.4%, for Vietnam 6.3%, and for Indonesia 5.5% this year.