Economic growth in Thailand, Indonesia, the Philippines, Vietnam and Malaysia will remain strong at an average 6% this year, according to the International Monetary Fund. The countries represent the top five economies of the Association of Southeast Asian Nations, or ASEAN.
While China’s recovery is “foggy,” with a growth rate of 7.8% last year to a forecasted 8.2% in 2013 and 8% in 2014, “ASEAN’s economy is resilient, and the strong performance will continue as the economic community integrates,” says Changyong Rhee, Asian Development Bank (ADB) chief economist.