Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
Economic growth of developing Asia to reach 3.9% in 2009: ADB
+ -
10:21, September 22, 2009

 Related News
 China's economy to grow by 8.2% in 2009: ADB
 S Korea's export business sentiment stands at 6-year high for Q4
 S Korea posts $1 bln in trade surplus in first 20 days of Sept.
 DPRK says having boosted economy in frog-jumping campaign
 S Korea's youth employment hit 19-year low in August
 Comment  Tell A Friend
 Print Format  Save Article
The overall economic expansion of developing Asia this year is expected to rise to 3.9 percent, sustained by the region's larger economies like China and India, the Asian Development Bank said in a report released Tuesday.

The update to ADB's flagship annual economic publication Asian Development Outlook, upgraded its forecast of the region's growth from a slightly lower 3.4 percent projection made in March and said it is likely to top 6.4 percent in 2010.

The Philippines-headquartered development bank said Asia's resilience is more remarkable as a deeper contraction of 3.7 percent is expected in the G3 economies -- the United States, the Euro zone and Japan -- this year.

"Despite worsening conditions in the global economic environment, developing Asia is poised to lead the recovery from the worldwide slowdown," said ADB Chief Economist Jong-Wha Lee.

Economic growth in East Asia is upgraded to 4.4 percent as China is seen to grow by 8.2 percent, beating the previous forecast of 7 percent, while in South Asia, economic growth is raised to 5.6 percent from the previous 4.8 percent as the Indian economy is poised to expand by 6 percent.

But elsewhere in the developing Asia, growth prospects remain bleak, the ADB report said. Aggregate growth in the export-depending Southeast Asia is projected to slow to 0.1 percent this year, and the Central Asia would merely grow at 0.5 percent, much lower than the 3.9 percent forecast in March. The economy of the Pacific islands will also grow at a slower 2.8 percent.

"There are notable divergences in the outlook across economies," the report said, but citing firm action by many governments and central banks, the relatively healthy state of financial systems prior to the global crisis, and the rapid turnaround in the region's larger, less export-dependent economies as the positive factors.

To develop more resilient economies, developing Asia should broaden the scope and structure of its openness, the report said. Reducing its vulnerability to external shocks requires policy makers to tackle the geographically unbalanced structure of its trade, capital flows, and movement of workers.

By promoting closer economic linkages within the region and a more balanced internal economic structure with a bigger role for domestic demand, policy makers in developing Asia will be able to achieve rapid yet stable growth for the region, it added.

Source:Xinhua



  Your Message:   Most Commented:
World's top ten most mysterious and horrible spots
Which country has the most beautiful women?
Indian media stinks up public opinions
Baby alien found by Mexican farmer
How do India's middle school textbooks portray China?

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90778/90858/90863/6764228.pdf