Domestic consumption is gaining ground on foreign investment as the main driver for economic growth ...
Domestic consumption is gaining ground on foreign investment as the main driver for economic growth in a number of developing Asian countries, according to Schroders' chief investment officer for Pacific ex-Japan Equities, Leong Wah Kheong. That makes the region less reliant on foreign outsourcing of manufacture from places such as the US and Japan. Historically, said Wah Kheong, this investment has provided a basis for sustainable growth in Asia. He added: 'In places such as Korea, it is becoming more evident that domestic consumption is overtaking foreign investment as the engine o...
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