Boom, gone? In recent years, the South East Asian economy has been booming with active activity with a healthy trade balance – import export ratio. However, a good demand for exports from the ASEAN economy was what mainly held this growth together. As demand for exports begin to decrease, the economy could face a crisis, or a downturn.
Countries such as Malaysia have been affected, with the total trade surplus falling to a low, nearly as close as the last economic crisis in 1997. As a Malaysian, I would hope that the economy gets back on track in order to sustain a better future for my generation, with good prospects and opportunities. With the downturn of the economy, this could have an adverse effect on the children of our generation from various ASEAN nations. Even China, at its brightest, is beginning to experience a slower economy, and along with this the EU is still under bad recession.
Household debts overall have been increasing in South East Asia too, which also impacts greatly on our generation – the ones who will have to fix it. Now we can only sit back and hope that with good policies, the economy will be restored to its best.
http://www.ibtimes.com/southeast-asia-fast-growing-region-may-face-economic-crisis-demand-exports-slumps-1303569
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