Welcome to your weekly roundup of key news and economic indicators from across Asia. This week brings a mix of important economic releases, continuing political crises, and international events with significant implications for the region. Here’s a detailed look at the upcoming highlights:

Economic Growth Figures

Japan is set to release its latest GDP data for the October-December quarter. Analysts predict a continued expansion, with an estimated growth rate of 1.3% on an annualized basis. However, underlying economic weaknesses, particularly in household spending, remain concerning.

Thailand will report its annual GDP figures for 2024, with forecasts indicating a moderate growth rate of 2.6-2.7%. Recovery in tourism and export performance are expected to drive this growth, though high household debt and subdued consumption are potential hurdles.

Political Developments

In South Korea, the constitutional court is holding hearings on whether President Yoon Suk Yeol should be removed from office over his short-lived martial law order in December. The ruling is anticipated by early next month. Concurrently, Yoon faces a criminal trial on insurrection charges.

Meanwhile, the political situation in Sri Lanka remains tense. The newly formed government will present its first national budget, addressing the demands from the International Monetary Fund (IMF) for fiscal reforms to secure a $3 billion bailout package necessary for economic recovery from the 2022 crisis.

International Inspections and Diplomacy

Visiting Japan, Rafael Grossi, head of the International Atomic Energy Agency (IAEA), will lead an inspection mission at the decommissioned Fukushima Daiichi nuclear power plant to evaluate the safety of treated water being released into the Pacific Ocean. This trip is intended to counter China’s claims of water contamination.

In a significant diplomatic move, the Halifax International Security Forum makes its debut in Taipei. The event aims to highlight Taiwan’s democratic achievements and involves discussions that may influence U.S. policies toward the region, particularly in light of ongoing tensions with China.

Financial and Corporate News

Australia will convene its monetary policy meeting, and key earnings reports from companies like Baidu, BHP, and Alibaba are set to provide insights into corporate performance and market trends.

In Singapore, Prime Minister Lawrence Wong will deliver the 2025 budget, a critical step ahead of the general election expected by November. The budget is likely to include measures addressing rising living costs and other pressing concerns.

Technological Advancements

China’s Huawei Technologies will launch its priciest tri-fold smartphone in Malaysia. Retailing at more than $2,700, the device is set to capture attention in the high-end smartphone market, potentially challenging the dominance of OLED screen technologies.

Upcoming Events

The G20 foreign ministers meeting in South Africa will discuss international relations, focusing on issues like land redistribution in the country and tension with Israel over genocide cases. The U.S. Secretary of State Marco Rubio has declined to attend due to disagreements with South African policies.

Japan and the Philippines will hold a defense meeting to discuss an upcoming intelligence-sharing agreement. This strategic partnership is part of Tokyo’s efforts to bolster regional security cooperation as a counterbalance to China’s growing influence.

Conclusion

This week promises a plethora of significant events and economic data releases across Asia. These developments will shape the region’s economic landscape and international relations. Stay tuned for more updates and analysis.

For more in-depth coverage and the latest breaking news, follow us on X at @NikkeiAsia.

We invite you to share your thoughts and insights in the comments below. Don’t forget to subscribe to our newsletter to receive updates straight to your inbox. Share this article on social media to keep your network informed.