Other emerging and commodity-exporting economies are likely to continue to see moderate recovery on the whole.
Risk factors to the overseas economic outlook are wide ranging and likely to be significant, as exemplified by (1) the U.S. macroeconomic policies and their impact on global financial markets, (2) the consequences of protectionist moves, including those observed in U.S.-China trade negotiations and their effects, (3) developments in emerging and commodity-exporting economies, (4) the progress in global adjustments in IT-related goods, (5) negotiations on the United Kingdom’s exit from the European Union (EU) and their effects, and (6) geopolitical risks.