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Morgan's bullish outlook for Asia, the concept of domestic demand in China and India, has attracted investors'attention
Source: | Author:finance-94 | Publish time: 2019-05-02 | 88 Views | Share:
Morgan Asset Management, which belongs to JPMorgan Chase Group, is one of the largest asset management companies in the world. It has two centuries of outstanding investment management experience and now manages assets of $1.200 billion worldwide.
Morgan Asset Management, which belongs to JPMorgan Chase Group, is one of the largest asset management companies in the world. It has two centuries of outstanding investment management experience and now manages assets of $1.200 billion worldwide.           
The European sovereign debt crisis has spurred global investors to sell risky assets, and Asian stock markets have not been spared. Take the Morgan Stanley Emerging Asia Index for example, which fell 17% from its high on April 15 to its low on May 25. However, the underlying factors and future outlook for Asia have not changed much. On the contrary, due to the sound financial situation and huge economic growth potential of Asian countries, they will still be favored by global investors in the medium and long term.           
China and India, the two engines of economic growth in Asia, have had good news recently. On the Chinese side, the purchasing manager index compiled by both the private and the official authorities in May has softened. From the perspective of macro-management, it shows that the pace of China's economy has slowed down from the full speed of last year, which should help to prevent overheating and to avoid a sharp tightening of policies.           
On the Indian side, real GDP grew by 8.6% in the first quarter of this year, higher than the adjusted 6.5% in the last quarter. Morgan Asset Management estimates that the overall earnings of the Indian stock market in FY2011 and FY2012 will be significantly higher than in 2009, with earnings growth reaching 25% to 30% per year.           
Although the periphery environment, especially the European haze, has not disappeared, the Asian economy is expected to continue to grow strongly, thanks to strong demand from China and India. Compared with the past, there are two significant differences in the current situation of the Asian economy. First, for the first time, Asia has contributed more to the global recovery than any other region. Secondly, in the past, Asian economies recovered from recession, mostly driven by exports, but this time supported by solid domestic demand.           
At present, global and local inventory cycles are boosting industrial production and exports in Asia. Although macro-policy stimulus measures are being recovered, private domestic demand in Asia is expected to remain buoyant on the basis of high asset values, strong consumer confidence and gradual improvement in employment.

  Looking ahead, Asia's growth trend will remain the same, and the region's share of world economic growth will continue to increase. The International Monetary Fund predicts that by 2030, Asia's economy will exceed the total size of Europe and the United States. At that time, Asia's share of global gross domestic product will also be less than 30% from the current level.