Domestic demand to drive Asian economies in coming slowdown

Mon, 08 Oct 2012

Oct. 8 (BusinessDesk) - The emerging economies of East Asia will rely on the growing spending power of their own people more than exporting to rich nations over the next year, with a slowdown in growth across the Asia-Pacific region, says the World Bank. Its latest East Asia and Pacific Economic Data Monitor has China slowing from annual growth in 2011 of 9.3 percent to 7.7 percent this year, before rebounding to 8.1 percent next year as looser monetary policy and fiscal stimulus by the Chinese government kicks in. The forecasts are highly de...

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