The growth in the Asia-Pacific region will moderate to 4.5 percent this year from the outperformed 5 percent in 2023, said the International Monetary Fund (IMF) in its "Regional Economic Outlook Asia and Pacific" launched in Singapore Tuesday.
Asia-Pacific is expected to remain the most dynamic region across the world, contributing about 60 percent of global growth in 2024, the report noted.
The region embraces diverse growth drivers, from resilient domestic consumption in most ASEAN countries to a sharp uptick in tourism in the Pacific Island countries, IMF said.
Near-term risks are now broadly balanced. Retreating inflation and the prospect of earlier monetary easing have increased the likelihood of a soft landing, IMF said.
Stronger-than-expected growth in Europe and the United States will bring growth to Asia's exporters while increased geo-economic fragmentation and geopolitical tensions continue to pose serious downside risks to medium-term growth in the region, it added.
Central banks should ensure that inflation returns smoothly to target, and policymakers should avoid making decisions overly dependent on anticipated interest rate moves by the Federal Reserve, IMF noted.
Asia-Pacific economy to grow at 4.5 pct in 2024: IMF
A Chinese mainland spokesperson said Lai Ching-te has sent "a dangerous signal" of seeking "Taiwan independence" and making provocations to undermine cross-Strait peace and stability in his speech upon assuming the role of Taiwan region's new leader on Monday.
Chen Binhua, a spokesperson for the State Council Taiwan Affairs Office, described Lai's speech as one that stubbornly followed the "Taiwan independence" stance, wantonly advocated separatism, incited cross-Strait confrontation and sought independence by relying on foreign support and by force.
Chen said the mainstream public aspiration on the island is for peace and development, instead of war and recession, while Lai has ignored the public opinion, exposing his nature of being "a worker for Taiwan independence."
The current complex and grave situation across the Strait is rooted in the fact that the Democratic Progressive Party has stubbornly stuck to the separatist stance of "Taiwan independence," rejected the 1992 Consensus that embodies the one-China principle, and kept colluding with external forces to make provocations of seeking "Taiwan independence," Chen said.
Taiwan is an inalienable part of China, said Chen, stressing that "Taiwan independence" and peace across the Strait are incompatible as fire and water.
"We have firm determination to resolve the Taiwan question and realize national reunification; we have strong capabilities to safeguard national sovereignty and territorial integrity; and we will take resolute actions to fight separatist activities seeking 'Taiwan independence' and external interference," he said.
"We will never tolerate any 'Taiwan independence' separatist acts in any form," said Chen.
China must and will be reunified, Chen stressed. No matter how the situation on the island changes and who assumes the regional leader, it will not change the fact that both sides of the Strait belong to one China, or impede the historical trend of national reunification, he said.
"We will fully implement the Party's overall policy for resolving the Taiwan question in the new era, unswervingly uphold the one-China principle and the 1992 Consensus, work together with Taiwan compatriots to promote the peaceful development of cross-Strait relations and cross-Strait integrated development, and resolutely advance the reunification of the motherland," said Chen.
Mainland says Lai sends "dangerous signal" in speech as Taiwan's new leader
