Asian economic recovery solid but inflation a risk
Asia's developing economies are expected to grow by just under 8% in 2011, according to the Asian Development Bank (ADB).In its annual Asian Development Outlook it predicted that the region would expand solidly over the next two years.
However, growth rates would be slower than in 2010, it said.
And it warned that inflation would pose a challenge for many Asian countries and could lead to social tensions.
The ADB also said that stronger economic links between developing countries could offset reduced demand for goods and services from recession-hit richer countries.
"Developing Asia, having shown resilience throughout the global recession, is now consolidating its recovery and rapid expansion in the region's two giants - the People's Republic of China and India - will continue to lift regional and global growth," said Changyong Rhee, the ADB's chief economist.
Asia, excluding Japan, would grow by 7.8% in 2011 and 7.7% in 2012, down from 9% in 2010 when the region rebounded strongly from the global financial crisis, ADB predicted.
Mr Rhee said despite some short-term trade disruption, he expected last month's earthquake in Japan to have a minimal [...]
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However, growth rates would be slower than in 2010, it said.
And it warned that inflation would pose a challenge for many Asian countries and could lead to social tensions.
The ADB also said that stronger economic links between developing countries could offset reduced demand for goods and services from recession-hit richer countries.
"Developing Asia, having shown resilience throughout the global recession, is now consolidating its recovery and rapid expansion in the region's two giants - the People's Republic of China and India - will continue to lift regional and global growth," said Changyong Rhee, the ADB's chief economist.
Asia, excluding Japan, would grow by 7.8% in 2011 and 7.7% in 2012, down from 9% in 2010 when the region rebounded strongly from the global financial crisis, ADB predicted.
Mr Rhee said despite some short-term trade disruption, he expected last month's earthquake in Japan to have a minimal [...]
Thanks, Admin, lookyp.com@gmail.com
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