ADB: Inflation threatens East Asian growth
Associated Press, Hong Kong | Thu, 07/28/2011 9:37 AM
ADB: Inflation threatens East Asian growth Eds: APNewsNow.[ AP Photo[
HONG KONG (AP) - The Asian Development Bank says surging inflation, a weak post-tsunami economic recovery in Japan and debt woes in the U.S. and Europe threaten East Asia's economic outlook.
The Manila-based lender on Thursday maintained its economic growth forecasts for 14 emerging and newly industrialized East Asian countries in 2011 and 2012.
But it said the region faces risks that also include more volatile financial markets and destabilizing inflows of short term capital, also known as "hot money."
The ADB's economic growth forecasts were unchanged from April, with East Asia forecast to expand nearly 8 percent this year and next. But it indicated that forecasts for a few countries including China could be downgraded.
The Asian Development Bank says surging inflation, a weak post-tsunami economic recovery in Japan and debt woes in the U.S. and Europe threaten East Asia's economic outlook.
The Manila-based lender on Thursday maintained its economic growth forecasts for 14 emerging and newly industrialized East Asian countries in 2011 and 2012.
But it said the region faces risks that also include more volatile financial markets and destabilizing inflows of short term capital, also known as "hot money."
The ADB's economic growth forecasts were unchanged from April, with East Asia forecast to expand nearly 8 percent this year and next. But it indicated that forecasts for a few countries including China could be downgraded.
