New Delhi, Apr 17 (KNN) This year the economic growth of Asia will leave behind the United States and Europe led by strong domestic demand, as per Morgan Stanley.

“The big argument that we’ve been making ... for Asia, including Japan, to outperform versus U.S. and Europe — is the fact that there is domestic demand strength,” Chetan Ahya, chief Asia economist, told CNBC’s “Street Signs Asia” on Monday.

He said that China is going through a rebound like quite nicely because of reopening, but also for fiscal and monetary policy being supportive.

Referring to India, Indonesia and Japan, other three large Asian economies, the economist said they are also showing robust domestic demand.

“We are expecting the region’s growth to outperform by about 500 basis points by the end of this year, which is essentially in the fourth quarter of this year,” said Ahya.

His bullish forecast for the region correspond with the latest International Monetary Fund (IMF) views that Asia Pacific remains a dynamic region despite a challenging year for the world economy.  (KNN Bureau)