East Asia putting down the accelerator
(Asia) - The Asian Development Bank (ADB) is forecasting East Asian economies to grow at a healthy 5.2 percent this year with additional acceleration in 2003 off the back of a recovering world economy stimulating regional exports.
East Asia for the ADB includes China, South Korea and the 10 member countries of the Association of Southeast Asian Nations (ASEAN), a which experienced a 4.3 percent GDP growth in 2001 and 7.6 growth in 2000.
The ADB has projected GDP growth for 2002 of 7.0 percent in China, 4.5-4.7 percent in South Korea and 3.0-3.5 percent for ASEAN.
Effectively an upward revision on earlier forecasts, GDP growth was likely to be most pronounced in countries with stronger dependence on electronics exports and the US market.
The ADB has projected GDP growth for 2002 of 7.0 percent in China, 4.5-4.7 percent in South Korea and 3.0-3.5 percent for ASEAN.
Effectively an upward revision on earlier forecasts, GDP growth was likely to be most pronounced in countries with stronger dependence on electronics exports and the US market.
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