Meanwhile, emerging and commodity-exporting economies will likely continue to lack growth momentum for the time being, especially in those economies that are restraining aggregate demand, such as by raising interest rates. Looking at the Chinese economy, domestic demand is likely to continue facing downside pressure amid ongoing progress in structural reforms.
However, since the authorities have formulated concrete policy measures to underpin economic activity and external demand is expected to continue picking up, the economy is likely to maintain stable growth in general at around the current pace.