Asian economies are turning the corner

Asia was the first region to be hit by the virus and the first to come out of lockdown. Now it is leading the global recovery.

Ha Long Bay, Vietnam © Getty Images/iStockphoto
Vietnam is a “darling of multinational firms”
(Image credit: © Getty Images/iStockphoto)

South Korea, a bellwether for world trade thanks to its deep integration into Asian supply chains, has become the latest economy to enter recession. Second-quarter GDP slumped 2.9% on the year, driven by the biggest quarterly drop in exports since 1963, says Alex Holmes of Capital Economics.

Seoul has dealt well with the virus and consumption is growing again, but that is being overshadowed by shaky global demand as trading partners struggle to “get back on their feet”. The rebound will be slow.

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Markets editor

Alex is an investment writer who has been contributing to MoneyWeek since 2015. He has been the magazine’s markets editor since 2019. 

Alex has a passion for demystifying the often arcane world of finance for a general readership. While financial media tends to focus compulsively on the latest trend, the best opportunities can lie forgotten elsewhere. 

He is especially interested in European equities – where his fluent French helps him to cover the continent’s largest bourse – and emerging markets, where his experience living in Beijing, and conversational Chinese, prove useful. 

Hailing from Leeds, he studied Philosophy, Politics and Economics at the University of Oxford. He also holds a Master of Public Health from the University of Manchester.