Key View

• We maintain our view that the Laotian economy will continue to face severe economic challenges ahead, with growth likely to slow to 2.2% in 2023, from our own estimate of 2.5% in 2022.
• Significant inflationary pressures have already prompted the central bank to raise interest rates to a multi-year high, while fiscal space is

Key View

• Mainland China has been experiencing strong growth of its non-hydropower renewables sector as the government remains supportive of the sector's role in meeting additional electricity demand from the market. We expect this growth to continue over the coming 10 years, mainly coming from the solar power sector.
• We have revised up our

Key View

• Latest data showed Mainland China’s real GDP growth accelerating from 0.6% q-o-q in Q422 to 2.2% in Q123. In light of these figures, we now expect growth to accelerate from 3.0% in 2022 to 5.2% in 2023, marking an upward revision from our previous forecast of 5.0%.
• A stronger start to the year, still-robust policy support, a

A series of diplomatic moves over the course of March 2023 points to some notable geopolitical shifts, with the US and China seemingly strengthening their relationships with important partners (see table below). The most prominent of these shifts would appear to be the normalisation of relations between Saudi Arabia and Iran, after many years of

Key View

• Mainland China is the largest Asian coffee market in terms of consumer spending. At-home consumption is mostly dominated by instant coffee, but we hold a strong growth outlook for more specialty products such as single-origin coffee, roasters, espresso makers, grinders and coffee pods and capsules.
• Coffee will increasingly become a

Key View

• We expect authorities in Mainland China to maintain focus on policies to support the medical sector in 2023, following the delivery of the government’s work report on March 5 2023 by Premier Li Keqiang.
• Mainland China will accelerate the implementation of its innovation-driven development strategy to achieve greater self-reliance and

Key View

• Mainland China is the largest beer market globally in terms of consumption. At-home consumption is mostly dominated by mass-market domestic beer, but there is a strong growth outlook for more specialty products such as craft beer and specialty beers.
• Beer is projected to be the most consumed alcoholic beverage in China in 2023 and

Key View: As domestic Covid-19 restrictions ease in Mainland China, retail sales growth has started to pick up momentum in 2023 despite lingering headwinds from 2022. The luxury fashion sector will see strong growth in 2023, starting with the Chinese New Year festive period. We highlight how luxury brands can further integrate their offerings in

Key View

• The boost provided to Mainland Chinese consumption by the rapid loosening of anti-Covid policies will have a significant effect on the global economy.
• We expect that increased consumer spending and outbound travel will benefit many EMs, particularly in Asia, Africa and Latin America.
• A rise in Chinese demand for energy, however, may