Goldman Sachs: Economic growth prospects for mainland China, India, Taiwan, Australia and New Zealand are more optimistic this year

The Zhitong Finance App learned that Goldman Sachs released a research report saying that in 2025, major Asian economies will show resilience and successfully meet the challenges brought about by the US tariff policy. Falling food and energy prices have boosted actual income. The financial environment tends to be relaxed (most countries are driving interest rate cuts), fiscal policies generally favor expansion, while East Asia's export performance is strong (China's Taiwan semiconductor exports are particularly prominent, and South Korea also contributed; mainland China excels in almost all other commodity sectors).

In the context of the overall positive outlook for global economic growth in 2026, East Asian exports are expected to continue to be successful. However, most regional economies will need to rely more on domestic growth drivers, which may increase the pressure for policy incentives and/or economic reforms. Compared to general market expectations, the bank is more optimistic about the growth prospects of mainland China, India, Taiwan, Australia and New Zealand. It generally shares its view on Japan, and is more cautious about some Southeast Asian countries (such as Thailand and Indonesia).

Goldman Sachs's overall view of the global market in 2026 is optimistic. At the regional level, the bank expects moderate inflation. South Korea and Southeast Asian countries will cut interest rates sporadically at the end of the economic cycle, while regional currencies will appreciate against the US dollar (mainly supported by the slow strengthening of the RMB).