China slowdown could hamper growth, tourism key: brokerage

While the pace of growth in Cambodia, Laos, Myanmar and Vietnam (CLMV) has outpaced the rest of Asean, expanding at an average of 6 percent compared to 4.6pc elsewhere in the region, the CLMV bloc is “not immune” to the current slowdown in China, according to Singapore-based brokerage Maybank Kim Eng in an April 5 note to its clients.

Already, CLMV exports to China have started to contract towards the end of 2018. “Both Laos and Myanmar rely heavily on Chinese demand and will probably not be spared in the event of a prolonged US-China trade war or severe China slowdown,” Maybank Kim Eng told its clients.

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