Asian Growth Speeds Up
Source: Agencies |
January 15, 2010, Friday
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Print Edition
Print Edition
ASIA'S economic growth is set to speed to 6.6 percent this year, but recovery from the global economic crisis remains fragile and stimulus exit strategies must be carefully timed, the Asian Development Bank said yesterday.
Calibrated policy shifts and closer ties between economies will be needed to sustain growth and cushion Asia against future shocks, said a new study commissioned by the Manila-based lender.
The region's recovery was still overly dependent on developed countries boosting their economies with monetary and fiscal stimulus, while needed key adjustments in the United States economy - Asia's largest market - were not happening quickly or convincingly, it said.
ADB President Haruhiko Kuroda said Asia is showing a V-shaped recovery, expanding from a 4.5 percent rise in 2009 to a 6.6 percent growth outlook in 2010.
Calibrated policy shifts and closer ties between economies will be needed to sustain growth and cushion Asia against future shocks, said a new study commissioned by the Manila-based lender.
The region's recovery was still overly dependent on developed countries boosting their economies with monetary and fiscal stimulus, while needed key adjustments in the United States economy - Asia's largest market - were not happening quickly or convincingly, it said.
ADB President Haruhiko Kuroda said Asia is showing a V-shaped recovery, expanding from a 4.5 percent rise in 2009 to a 6.6 percent growth outlook in 2010.
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