HSBC's Neumann Says Passed Peak Growth in Asia

The video discusses economic trends in Asia, highlighting that peak growth has likely passed due to the lack of new policy impulses and the waning effects of Chinese stimulus. Despite a resurgence in exports, local consumption remains soft, with manufacturers not hiring and wages stagnant. Central banks are holding policies steady as inflation remains low. The video also explores the concept of full employment, noting the challenges in measuring it accurately in Asia due to limited labor market data. Finally, it examines why rising commodity prices are not translating into higher core inflation or consumer spending.

What challenges are faced in assessing full employment in the context of the current economic landscape?

In what ways has the increase in GDP numbers in Asia been attributed to exports rather than domestic consumption?