Despite the rhetoric (or it it the cause of the rhetoric?) from the USA, Asia is continuing to grow and becoming a powerhouse of Gross Domestic Product.
These graphs show that:
1.The US and EU accounted for more than half of the global economy in 1980. Today they combine to make up 31%
2. Asia’s share of the global economy (led by China’s meteoric growth) has rocketed up to 34%.
3. By 2024 China is projected to have 19.24% of global GDP, USA only 15.03%
4. New Zealand, really is tiny – only 0.14% of global GDP predicted by 2024 – a very good reason to diversify your investments internationally
With countries like India and Indonesia rapidly urbanising, this trend is likely to continue.
Moneyworks continue to recommend good allocations to the growing areas of Asia to our clients for their portfolios, there are a lot of exciting things happening there.