The IMF noted that China’s post-pandemic recovery has softened. India remains the fastest-growing large economy with a 6.1% expansion this year, up 0.2 pp from the IMF’s April prediction. In contrast, China, projected to be the second-fastest-growing major economy at 5.2% this year, is witnessing a slowdown in its post-COVID-19 recovery. Emerging and developing economies, especially those in Asia, will propel global growth this year as advanced economies decelerate. The fund anticipates a 5.3% growth for emerging and developing economies in Asia this year, compared with 4.5% in 2022. The so-called ASEAN-5 — Indonesia, Malaysia, the Philippines, Singapore, and Thailand — are expected to grow 4.6%.