http://www.nytimes.com/2012/04/12/business/global/slowdown-forecast-for-developing-asian-economies.html?_r=1&ref=business
The Asian Development Bank has announced that the countries will be slowing their growth somewhat this year however it will still be higher than Japan, the U.S., and Europe. Like most countries, those in Asia are still bouncing back from the recession, however their growth rates are expected to be around 6.9% this year while all other developed countries are estimated at 1.7%. The bank feels very optimistic because China and the demand for their goods has continued to stay strong. These countries have remained out of deep trouble by avoiding most of the U.S. housing crisis and the debt crisis in the euro zone. Europe is still struggling and there are possibilities that downfalls in Europe could affect Asia so they aren't in the clear yet.
3 comments:
This is very important to note because there's been a lot of talk that China is on its way to surpass the United States, for several reasons-- higher output, avoidance of a housing market collapse, and more. As a nation, us Americans should have some concern that China may surpass us, but we should not really consider it a threat-- healthy competition is good on a global scale, and if we maintain strong relations with China, we may be able to ride China's success wave which could pull us out of our own slump, and learn some new methods from China in order to incorporate it in our system.
Good article! For countries like China were they prefer long, controlled structural change instead of a revolution type of change, economic growth is important. Economic growth will lead to happier citizens that do not question the government, because they have food on their plates and enough to money to send their children to school. Despite the slower growth, the citizens will probably feel no change in their life like Americans experienced in 2008. Therefore, China's predicted economic growth should be no concern for the government concerning domestic issues.
The slow down of Asian economy was predicated. As we learned in class, the speedy development of Asia in the past decade replied mostly on labor intense sector. Labor was transfered from agriculture to manufacture and other technology based sectors. When there is no that much avaible labor to be moved, which is now, that is the end of incredible speedy growth.
Post a Comment