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2 May 2025

Econ Digest

Update on the economies of ASEAN and China for May 2025

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Update on the economies of ASEAN and China for May 2025

In 2025, the economies of ASEAN and China are expected to slow down by 0.6-1.5% due to the impact of reciprocal tariffs.

•    China’s economy is expected to grow at a slower pace of 3.6% in 2025. The Chinese authorities place emphasis on non-tariff measures to counter the US and accelerate economic stimulus measures to boost domestic spending and support exporters.
•    Indonesia’s economy is expected to grow at a slower pace of 4.5% in 2025. Indonesia is among the first 20 countries to enter the initial phase of tariff negotiations, aiming to complete negotiations in 60 days.
•    Vietnam’s economy is expected to grow at a slower pace of 5.3% in 2025. The General Secretary of the Vietnamese Communist Party proposes 0% tariffs on US imports, but US deems this insufficient due to non-tariff trade barriers.

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Econ Digest

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