REGIONAL GROWTH
China's switch will help Asian trade, says StanChart
- Published: 6 Nov 2012 at 00.00
- Newspaper section: Business
Standard Chartered Bank predicts that trade and investment between Asian countries will accelerate.
Lim Cheng Teck, chief executive for China, said China's trade with the US and Europe had driven its high growth rate over the past decade, but its new focus on the Middle East and Africa could bolster its economy.
"Its policy of shifting its source of growth to be more from domestic demand will increase import demand for commodities and manufacturing goods. There will be a spillover to Asian countries," Mr Lim said.
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