ECONOMIC RESEARCH

| Japan

Japan: Moderate growth thanks to private domestic demand

The Japanese economy continued its upward trend in the final quarter of 2017, albeit at a more moderate pace

| China

China: The slowdown continues

China’s GDP growth came in below expectations in Q3, declining to +6% y/y from +6.2% in Q2.

Chronicles of Protectionism Foretold

After solar panels and dish washers, steel and aluminum, President Trump now wants to increase tariffs on Chinese drugs and robots, among others, for over USD60bn worth of imports. Volatility surged as concerns about a trade war resurfaced. On the campaign trail, then-candidate Trump was clear about his intentions to renegotiate every disadvantageous free trade agreement.

| China

Is China winning the insurtech race?

China will be essential to the insurance world in a platform economy, thanks to scale, purpose and agility.

| South Korea

South Korea: The cost of trade dependence

Preliminary estimates show that real GDP decreased by -0.3% q/q in the first quarter of 2019 (after +1% q/q in Q4 2018).

Indonesia: Accommodative monetary policy to support growth

Last week, Bank Indonesia (BI, the central bank) cut its key policy interest rate by 25bp to 5.25% and announced a number of macroprudential lending rules to boost bank lending capacity and demand for new loans

| Taiwan

Taiwan: Growth set to slow down after a strong Q2

The economy has surprised on the upside so far in 2019 as unexpectedly strong real exports and investment boosted GDP growth to +2.4% y/y in Q2, after +1.8% in Q1.

| Australia

Australia: Slowdown

Q2 real GDP growth remained stable at +0.5% q/q. However, in y/y terms it fell to +1.4%, the slowest rate since Q3 2009, from +1.7% y/y in Q1 2019 and +2.7% in 2018 as a whole

| Japan

Japan: Positive signs for a pick-up of economic activity in Q2

The second official estimate for Q1 GDP growth was unchanged at -0.2% q/q

| Malaysia

Malaysia: Gradually losing momentum

Real GDP growth moderated to +4.4% y/y in Q3 from +4.9% in Q2, taking the average expansion in the first three quarters of this year to +4.6% y/y.