Asian economies need a safety valve | Bangkok Post: business

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Asian economies need a safety valve

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While most of Thailand was busy enjoying and recovering from the Songkran festival last week, those with energy left to follow the news were either following the Preah Vihear hearings at the International Court of Justice, or fretting about the Chinese economy. 

A ruling in the Preah Vihear temple dispute between Thailand and Cambodia is not expected until October, but at least it was encouraging to see both sides airing their cases in the proper forum. Whichever way the decision goes, both parties should respect it and move on despite any domestic backlash that may occur.

But what has been more interesting, with greater implications for all Asia and the world, was the release of China’s gross domestic product (GDP) figures. The world’s second largest economy expanded by 7.7% year-on-year in the first quarter, down from 7.9% seen during the last quarter of 2012 and below the 8% expectation of the markets.

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