HONG KONG and SINGAPORE, Dec 29 (Bernama-GLOBE NEWSWIRE) — 2020 has been an eventful year which saw some of the toughest social, economic and political challenges in recent times. While stabilization of markets seems to be within reach with the introduction of new COVID-19 vaccines and new leadership in the US, investors should expect the process to be gradual and long as the structural changes caused by the pandemic will take time to reverse if not already permanently shifted, Manulife Investment Management says in its regional outlook for the year ahead.
Frances Donald, Global Chief Economist, Manulife Investment Management, said: “One of the most critical features of the COVID-19 recession globally is that it more disproportionately hits the services side of the economy and it was much less painful for the manufacturing side. We refer to this as the K-shape recovery going into 2021 of which sectors that provide the essentials during the pandemic, such as manufacturing, technology, will continue to grow, while those more driven by the demand and supply dynamics, such as retail and services, may continue on a downward slope.
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