J.P.摩根- 2017下半年亚洲经济展望-2017.6.30EM Asia 2H17 outlook.pptxVIP

EM Asia 2H17 outlook: Back to the mean1H17 growth in EM Asia surprised to the upside, driven by tech and commodity-related sectorsSofter China and G-3 capex, should see growth normalize in 2H17Tech launches and semiconductor demand should benefit North Asian economies more than othersStabilized capital outflows in China, reduced volatility opens policy space for PBOC to refocus on domestic issuesDespite recent cyclical lift, core inflation has been on a downtrend, suggesting limited domestic pricing powerGlobal financial conditions should remain supportive of EM Asia – balance of payments revi