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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (9126)	7/12/2004 4:44:18 PM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

ADB sees China achieving soft landing TOKYO: China will probably manage a soft landing for its economy over the next few years as it takes measures to cool overheating sectors, the head of the Asian Development Bank (ADB) said. “Growth in money supply, bank loans and fixed asset investment all moderated slightly in March,” ADB President Tadao Chino told a seminar hosted by a Japanese newspaper. “We thus expect the Chinese economy to achieve a soft landing over the next two to three years,” he said. Financial markets have feared that a boom in China’s economy — now a major driving force behind global trade flows and growth — would turn to bust, but Beijing has taken measures to curb heavy investment in order to slow dwon certain sectors, and Chino said this seemed to be working. “The government is trying to address structural problems and achieve more balanced growth, particularly by reorganising investment in under-invested sectors, such as agriculture,” he said. While citing the sustainability of China’s growth and a recent rise in oil prices as risks for the region, Chino said they were not likely to derail Asian growth over the next two years. On the ADB’s efforts to strengthen economic ties within the region, Chino said conditions were becoming ripe for introducing a common Asian currency. Trade flows within Asia were comparable to that of Europe before the euro, while labour mobility in East Asia was also high, he said. —Reuters dailytimes.com.pk