CHINA HAS BOOSTER EFFECT ON GROWTH IN EAST ASIA
Sameera Anand
Finance Asia, April 8, 2010
East Asia, led by China, has emerged stronger after the financial crisis, but a continuation of structural reform is needed to maintain the growth momentum, finds the World Bank.
On the back of a recovery in demand, ongoing stimulus in developing East Asia and a rebound in consumer spending, the World Bank has raised its projection for real GDP growth for the region in 2010 to 8.7%, almost one percentage point higher than its forecast in November 2009. The research is part of the World Bank's latest East Asia & Pacific Economic Update, a biannual assessment of the economies in the region, which was released yesterday.
Sameera Anand
Finance Asia, April 8, 2010
East Asia, led by China, has emerged stronger after the financial crisis, but a continuation of structural reform is needed to maintain the growth momentum, finds the World Bank.
On the back of a recovery in demand, ongoing stimulus in developing East Asia and a rebound in consumer spending, the World Bank has raised its projection for real GDP growth for the region in 2010 to 8.7%, almost one percentage point higher than its forecast in November 2009. The research is part of the World Bank's latest East Asia & Pacific Economic Update, a biannual assessment of the economies in the region, which was released yesterday.
The World Bank attributes East Asia's "remarkable recovery" primarily to: a large and timely policy stimulus; renewed inventory restocking; the return of buoyant demand abroad and improving consumer sentiment. Also contributing, it said, are solid economic fundamentals, including high foreign exchange reserves; well-capitalised banks; and modest levels of household, corporate and government debt.
The World Bank estimates that growth in the region slowed to 7% in 2009 from 8.5% in 2008, and notes that the reason why the slowdown wasn't more pronounced was because China maintained its growth momentum. According to the report, China's GDP growth slowed to 8.7% in 2009 from 9.6% in 2008.
(...) [artículo aquí]
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