Arab Today, arab today asia \to maintain growth\ despite global headwinds
Last Updated : GMT 17:40:28
Arab Today, arab today
Arab Today, arab today

Asia \'to maintain growth\' despite global headwinds

Arab Today, arab today

Arab Today, arab today Asia \'to maintain growth\' despite global headwinds

Hong Kong - AFP

Emerging Asian economies will experience flat growth this year before recovering in 2013, the Asian Development Bank (ADB) said in a regional report released Wednesday. The Asian Development Outlook report for 2012 said the region was shifting toward a \"more sustainable long-run growth path\" based on strong domestic demand instead of exports, which have been hit by wobbly Western demand. But the study also warned that the region\'s rising wealth was fuelling inequality and income disparities, with the underprivileged at risk of being sucked into a \"vicious circle\" of poverty and neglect. The vast region\'s gross domestic product (GDP) growth will \"cool somewhat\" to 6.9 percent in 2012, down from 7.2 percent last year, before edging higher again to 7.3 percent in 2013. \"Despite the weak global environment, developing Asia\'s growth momentum continues,\" it said. \"Strong domestic demand provided necessary support in 2011, and this will need to continue in light of the soft export demand expected from the major industrial economies of the United States (US), eurozone, and Japan.\" Even with a slowdown this year, developing Asian economies would easily outshine Europe, the United States and Japan where output is forecast to grow only 1.1 percent this year and 1.7 percent in 2013, the report said. \"Continued uncertainties in the eurozone and a further slump in global trade pose the biggest threats to the growth outlook,\" ADB Chief Economist Changyong Rhee said in a statement. \"At the same time, Asian economies are gradually diversifying into new markets, private consumption is trending up and the region has limited direct financial exposure to the eurozone -- which should help sustain its momentum.\" The stronger trend in domestic consumption -- in a group of countries known for high savings rates -- could be seen in the region\'s current account surplus, which fell to 2.6 percent of GDP from four percent in 2010. The report covers most economies in Asia except Hong Kong, Japan, Singapore, South Korea and Taiwan. The countries account for more than 80 percent of Asia\'s population. Inflation was a concern for the region last year until the eurozone debt crisis and the patchy recovery in the United States sapped demand for exports, forcing policy-makers to worry more about growth. The ADB said prices had eased but remained a \"potential threat\", especially given the volatility of food and fuel costs. China, the world\'s second biggest economy, would see growth moderate to 8.5 percent this year and 8.7 percent in 2013, compared to 9.2 percent in 2011. The region\'s other emerging giant, India, would post 7.5 percent growth in 2012. Southeast Asia\'s GDP would expand 5.2 percent this year from just 4.6 percent in 2011, thanks largely to Thailand\'s recovery from last year\'s devastating floods. The report said Asia had \"lifted people out of poverty at an unprecedented rate\" over the past few decades, but its recent growth had been characterised by widening income disparities between the super-rich and the rest. If the spoils of growth had been more evenly shared and inequality rates had remained stable, another 240 million people -- or 6.5 percent of developing Asia\'s population -- would have moved out of poverty between 1990 to 2010. The ADB recommended measures including greater spending on health and education, cutting fuel subsidies and broadening the sources of tax revenues to address rising inequality.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asia \to maintain growth\ despite global headwinds Arab Today, arab today asia \to maintain growth\ despite global headwinds

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday