Research
- +16
Stewart Patrick, Erica Hogan, Oliver Stuenkel, …
{
"authors": [
"Trinh Nguyen"
],
"type": "legacyinthemedia",
"centerAffiliationAll": "dc",
"centers": [
"Carnegie Endowment for International Peace"
],
"collections": [],
"englishNewsletterAll": "asia",
"nonEnglishNewsletterAll": "",
"primaryCenter": "Carnegie Endowment for International Peace",
"programAffiliation": "AP",
"programs": [
"Asia"
],
"projects": [],
"regions": [
"South Asia",
"East Asia"
],
"topics": [
"Economy",
"Foreign Policy"
]
}
Source: Getty
In The Media
For Asia, at Least, This Is Not the Depression
Mobility restrictions, especially in economies dependent on domestic demand such as India, Indonesia, and the Philippines, have suppressed already shy spenders.
By Trinh Nguyen
Published on Jun 4, 2020
Source: Financial Times
Economic data is frightful right now — from retail sales to exports, growth engines are sputtering sharply. After a supply shock from China’s factory closures in February, Asia is confronting both domestic and external demand shocks in the second quarter. Mobility restrictions, especially in economies dependent on domestic demand such as India, Indonesia and the Philippines, have suppressed already shy spenders. Even in countries with “normalised” mobility, self-restraint has left shopkeepers wanting. Missing tourists, falling export sales, weakening remittances and cautious foreign investors have put income pressure on current account deficit economies, and even excess-saving ones such as China, Singapore and Thailand.
About the Author
Trinh Nguyen
Former Nonresident Scholar, Asia Program
Trinh Nguyen was a nonresident scholar in the Asia Program at the Carnegie Endowment for International Peace.
- BRICS Expansion and the Future of World Order: Perspectives from Member States, Partners, and Aspirants
- Indonesia’s Controversial Fuel Price Hike Was Actually NecessaryCommentary
Trinh Nguyen
Recent Work
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
More Work from Carnegie Europe
- Taking the Pulse: Is Canada Leading a Third Way?Commentary
Canadian Prime Minister Mark Carney has twice inspired praise for standing up to U.S. President Donald Trump: at the 2026 World Economic Forum in Davos and on Canada-U.S. trade negotiations. Is Carney showing a third way better than the EU has in dealing with the Trump administration?
Rym Momtaz, ed.
- Europe’s Self-Confidence ProblemCommentary
The EU’s responses to two recent incidents expose the gulf between European perceptions and capabilities. Unless the union can bridge that gap, it will never become a real geostrategic power.
Rym Momtaz
- Europe’s Overseas Countries and Territories as Geopolitical AssetsArticle
European states control several Overseas Countries and Territories around the world that carry strategic, economic, and environmental weight. As great powers challenge the rules-based order, defending them is a geopolitical imperative for Europe.
Marc Pierini
- Letter from the Editor: Europe Takes Two Steps Forward But One Step BackCommentary
As we close out another season of Strategic Europe, it is worth taking stock of the deep shifts underway.
Rym Momtaz
- Taking the Pulse: Are the EU’s Watered-Down Russia Sanctions Better than None?Commentary
The EU had to compromise to adopt a twenty-first sanctions package against Russia, exposing growing cracks in the union’s resolve. Is this latest, weaker round worth it to keep pressure on Moscow?
Rym Momtaz, ed.
