Photogaphy: China, second India in top of Asian economy

Shi Xinping China, from Dipole of China, including the whole of Asia, is writing its name on the list of world's top economies considering GDP.

China is the world's second largest economy. The country's total economy stood at 25.3 trillion dollars. The country's economy has increased 9 percent since 2017. The country has the most domination throughout Asia.

After China, India's holding of 10.38 trillion dollars is the second largest economy in Asia. India's economy grew 9.8 percent over last year.

According to the International Monetary Fund's (IMF) 'World Economic Outlook' report, rising market growth and developing economies will increase further. Then the increase will stop. So policy makers should make the right use of this opportunity. The IMF has been saying for a long time that good times are not long lasting. But balanced policy prevails.

The current GDP of the Philippines stands at 955.2 billion. One country after another has exceeded the Philippines's GDP. But the country has kept their economic growth. Currently, one of the top 10 countries in Asia is the Philippines.

Considering economists, Malaysia is moving very fast and strong. On the other hand, Indonesia is one of the most emerging markets in the current world.

Thailand is developing new industrialized countries and at very fast speed. The country's GDP has increased 6 percent since 2017.

In matters of economy, population and demographic changes should be kept in mind. The young population of any country forces the economy to create jobs. The majority of India and the Philippines are currently young. They should make employment and utilize their young population.

They have to work hard to deal with a technology-based country like Japan and China. Only then will they be in the list of top 10 countries in Asia. -Datials, Asia News Network, The Nation

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