Workers make swimwear at a factory in Yinglin town in China’s eastern Fujian province in August 2018. Photo: AFP
Asia’s export-driven growth model is on its last legs. What comes next?
With automation and protectionism pushing manufacturing back to home markets, Asian economies need to boost domestic consumption. But can they maintain good growth without increasing inequality and aggravating climate change?
Andrew Sheng is a former central banker and financial regulator, currently distinguished fellow at the Asia Global Institute, University of Hong Kong. He writes widely on Asian perspectives on global issues, with columns in Project Syndicate, Asia News Network and Caijing/Caixin magazines. His latest book is “Shadow Banking in China”, co-authored with Ng Chow Soon, published by Wiley.