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World Bank: East Asia Leading Global Recovery but Needs Reforms Ahead
Source: web.worldbank.org
Source Date: Thursday, April 08, 2010
Focus: Institution and HR Management
Created: Apr 12, 2010

“The World Bank raised its growth forecast for developing East Asia this year by almost a full percentage point to 8.7 percent on Wednesday but said the region's high-flying economies must make structural reforms to sustain their rapid expansion….” [The Associated Press/Factiva]

AFP quotes: “… ‘Largely thanks to China, the region's output, exports and employment have mostly returned to the levels before the crisis,’ the Washington-based lender said in its twice-yearly update on East Asian and Pacific countries….the world's third-largest economy - which grew 10.7 percent in the fourth quarter of 2009 - had boosted economies mainly through its steady demand for imports from the region.” [Agence France Presse/Factiva]

Reuters writes that “…Stripping out China, growth will spurt to 5.5 percent in 2010 from 1.3 percent in 2009… Vikram Nehru, World Bank Chief Economist for the East Asia Pacific region, said policymakers needed to plan for slower growth in developed countries, tighter global financial conditions, rising concerns about developed countries' debt levels, and a more difficult environment for global trade….” [Reuters/Factiva]

Dow Jones says the World Bank cites “…recovery in export demand, sustained fiscal and monetary stimulus in the region and a rapid rebound in consumer spending…” as causes for the raised forecast. …” [Dow Jones/Factiva]
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