Asia’s economic importance will likely become even more significant in the current decade, says Dong Chen, senior Asia economist at Pictet Wealth Management, the wealth management arm of the Geneva-based Pictet Group, with CHF662 billion ($977.32 billion) in assets under management.
Asia’s significance will rise as global growth remains solid for the next decade. While China looks inward for domestic consumption and cleans up its act through green investments, Southeast Asian economies will benefit from the global supply chain migration out of China.
This is according to Pictet Wealth Management’s 2021 edition of Horizon, its 10-year view on economies, expected returns and strategic asset allocation. Launched in 2014, Horizon is published annually.
