Wealth Outlook 2024 - Slow then grow

114 Wealth Outlook 2024 | Regional outlook Asia: faster growth for 2024 as headwinds recede Watch Taiwan and the Whoosh An election worth watching takes place January 13th in Taiwan. It’s hard to underestimate the geopolitical significance associated with internal Taiwanese politics. At the same time, after the loud displays of power by the US and China over the past two years, lines of communication have reopened between the superpowers in some key areas, a tentative indication of a de-escalation that some Taiwanese voters will be reluctant to upset. Despite a tight race between the leading candidates, the odds of a significant change in the status quo seem low. Like India and Japan, Southeast Asia is another part of the region where supply chain diversification should continue to draw business and investor interest. In Indonesia, Southeast Asia’s first high speed railway, the Chinese built Jakarta-Bandung line – or Whoosh – just began operations and could lead to more such infrastructure projects. And Singapore may see meaningful currency strength in a market with a relatively hawkish monetary authority, solid economic growth and continued foreign investor inflows.