The most immediate and visible fallout from the global credit market turmoil has been an increase in volatility in emerging East Asian bond markets, says a new report issued by the Asian Development Bank (ADB).
According to the Emerging Economy Report released by the Center for Knowledge Societies (CKS), India is the most energy efficient country among leading Emerging Economies, including Brazil, China and South Africa.
Economic expansion in the People’s Republic of China (PRC) will moderate to about 10% in 2008 and 2009 on the back of an anticipated tighter domestic monetary policy and weaker external demand, says a key Asian Development Bank (ADB) report.
Developing Asian economies will register solid growth in 2008 despite a coincident slowdown in major industrial economies, surging food and fuel prices and a simmering credit crisis in the United States, the Asian Development Bank (ADB) says in a new major report.
The Japanese economy is experiencing the longest expansion in its post-war history, and growth is projected to continue at a 1½ to 2% rate over the next two years. This expansion has been largely driven by buoyant business investment and strong export growth, especially to other Asian countries.
Both the World and Asian Development Banks have forecast a cooling in the rapid pace of economic growth in East Asia; forecasts which should be of considerable interest to Australia.
According to some analysts, the Japanese economy could be headed for a mild recession this year, following the release of a survey showing sentiment among big Japanese manufacturers has sunk to a four-year low. The Bank of Japan Tankan survey is seen as further evidence of a worsening economic outlook.
Growth in developing East Asia will decline by around one to two percentage points to around 8.5% in 2008 as a result of the unfolding financial turmoil in the US and the resulting global slowdown, says the World Bank’s latest six-monthly review of the East Asia and Pacific region’s economies.
