East Asia Navigates Short-Term Shocks for a Stronger Future
The World Bank’s half-yearly report on East Asia shows that the external shocks, such as the Iraq crisis and the outbreak of Severe Acute Respiratory Syndrome (SARS), have put the region in a troubled and uncertain
environment, despite strong growth of nearly 6 percent over the last year. The update projects that growth will fall by almost a percentage point in 2003, to 5 percent, before rebounding in 2004. Bank officials nevertheless note that the region’s fundamental strengths should enable it to withstand these short-term shocks, and grow faster than any other region in the world.
Read the full article and find a link to the full report here.
Posted on April 30th, 2003 by jl
Filed under: Regional Financial Concerns: Asia
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