The president, Moon Jae-in, will redouble his reform push, buoyed by his Minjoo Party’s
success in securing a parliamentary super-majority in the 2020 general election. The
government got a pre-election boost from its effective response to the coronavirus
outbreak, which minimised the impact on health and the economy. Policy will focus on
inequality, boosting small and medium-sized businesses and deepening labour-market
reforms. The economy will return to trend growth.

TO WATCH: Back to the brink. North Korea’s traditional belligerence will return as the
love-in with Donald Trump fades into memory.

Sri Lanka

GDP growth: 2.3%

GDP per head: $3,940 (PPP: $13,580)

Inflation: 5.1%

Budget Balance (% GDP): - 8.5

Population: 21.5m

In elections in 2020, a landslide win for the Sri Lanka People’s Front (SLPP) gave
sweeping authority to the government, headed by the powerful Rajapaksa family
(Mahinda is prime minister and Gotabaya president). They immediately vowed to tweak
the constitution to increase presidential powers. The main opposition party is, like the
SLPP, supportive of the Sinhala-speaking Buddhist majority. A gradual pick-up in
exports will help the economy recover, though only partially, from the covid- 19
recession.

Taiwan