ADB cuts growth estimates for Asia | Bangkok Post: business

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ADB cuts growth estimates for Asia

MANILA - The Asian Development Bank (ADB) on Friday trimmed the region's growth forecasts for 2012 and 2013 amid "uncertainty" in Europe and the United States, and a poor Indian economy.

The region of Developing Asia, which excludes Japan, was set for growth of 6.0% in 2012, and 6.6% in 2013, the bank's latest Asian Development Outlook Supplement said, 0.1 percentage point lower for each year than it predicted in October.

An Indian fishermen checks the fishing nets near the shore of the Arabian Sea in Mumbai, India, on June 26, 2012. (EPA photo)

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  • bluebottle

    ThailandPost : 1,467

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    Discussion 1 : 07 Dec 2012 at 13.451

    Its time Asia started to admit it owes it growth to the USA and Europe,without them they would be nowhere.By undercutting the European and the USAs production costs through pitifully low wages for there employees Asia and China have decimated industry in both continents.However what goes around comes around I will not see it in my life time but time will tell but only when Asia and Chinas population become better educated.

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