China: Rebalancing under the 12th Five-Year Plan
Policy will be aimed at promoting consumption, investing for higher productivity and sustainable growth and providing a regulatory environment conducive to a higher stage of development.
Global Letter 2
Banks cannot “lend out” reserves 2
Feature Article 3
China: Rebalancing under the 12th Five-Year Plan 3
Data Preview 5
The week ahead 5
Chart Alerts 6
Our leading index of Asian exports has turned up 6
Thailand: Rising underlying inflation 6
Outlook 2011-2012 7
Australia: Seeing through the floods and the cyclone 7
China: A prolonged policy tightening cycle has begun 8
Hong Kong: Expansionary fiscal policy set to boost growth 9
India: Growth set to moderate 10
Indonesia: A step closer to investment grade 11
Malaysia: Still dovish monetary policy stance 12
New Zealand: Weak GDP growth after the earthquake 13
Philippines: Time for monetary action 14
Singapore: Inflation fighting 15
South Korea: BOK to miss its inflation target 16
Taiwan: Manufacturing revving up 17
Thailand: Staying the course to normalization 18
Vietnam: Macro stabilization policies rolled out 19
Forecast Table 20