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Strategies & Market Trends : Greater China Stocks
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From: Julius Wong10/7/2012 10:43:41 PM
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World Bank Sees East Asia Growth Sliding to 11-Year Low on China
By Karl Lester M. Yap - Oct 7, 2012

The World Bank said policy makers in Asia’s emerging economies have room to ease monetary and fiscal policies as China’s slowdown drags the region’s growth to an estimated 11-year low this year.

Growth in developing East Asia, which excludes Japan and India, will probably ease to 7.2 percent from 8.3 percent in 2011, the Washington-based lender said in a report today. That is the slowest pace since 2001, according to World Bank data, and lower than a forecast in May of 7.6 percent.

The International Monetary Fund is set to revise down its global outlook for this year tomorrow at an annual meeting in Tokyo where officials will tackle a slowdown triggered by Europe’s sovereign-debt crisis. Central banks are stepping up efforts to protect the worldwide recovery, with the U.S. expanding monetary easing and the Bank of Korea forecast to cut interest rates this week.

“As external demand has further moderated and inflationary pressures recede, there is some space for accommodative policies in most countries, and in case of a major external slowdown, sufficient fiscal space for stimulus,” the World Bank said. “The latter is likely to be more effective in keeping up demand, as policy rates are already low and liquidity relatively abundant in most East Asia-Pacific countries.”

bloomberg.com
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