If the ambitious targets laid down by the 2015 Paris Agreement are to be met, then global coal consumption will need to fall sharply and eventually be eliminated. This poses a huge challenge for many countries in Emerging Asia, several of which are dependent on coal for around 50% of their energy needs. But provided the transition to a green economy is done gradually, we think it can be achieved with relatively little cost to economic growth.
Meanwhile, the rise in inflation in Korea in October adds to the reasons to think the central bank will hike rates at its scheduled meeting later this month.
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