Goldman Sachs says Asia is ‘best positioned’ for economic recovery
SINGAPORE — Asia is well placed for economic recovery compared to the rest of the world because it has mostly succeeded in containing the coronavirus, Goldman Sachs said this week.
“We think Asia’s really the best positioned of the major regions right now, just given the good control of the virus in most of the region outside of India and some parts of Southeast Asia,” said Andrew Tilton, chief Asia economist at the investment bank.
He said China’s consumer spending has been “more sluggish” because, unlike in the U.S., stimulus measures were not directed at income replacement. “But I think given the good control of domestic transmission of the virus in China, we are seeing services activity come back there as well,” he told CNBC’s “Street Signs Asia” on Monday.