Europe deteriorated, East Asian economies grew only 5%!

MAKE MONEY BLOG$~SINGAPORE. East Asia's economy will only grow at least 5% this year if the eurozone's economic crisis worsens.
The prediction was issued by the World Bank. Although the government has enough room to do a fiscal stimulus if needed, it could boost economic growth higher.
The rate of expansion within the region still outstanding despite the global crisis is still raging. Pamela Cox, World Bank vice-president of states of East Asia, if you use the calculation of the status quo, the economy will grow 7.6% during 2012.
The region's policy makers are under pressure is great enough to protect their economies from the impact of the European crisis. Indonesia and Vietnam are some countries that promised to speed up the absorption of the budget and increase the credit from the banking sector.
While the policy chosen China to spur the economy by lowering interest rates last month for the first time in more than three years.
"East Asia is great potential to withstand the global economic downturn," said Cox. But the target of this maximum can only be achieved if Asia is really changing the strategy of export markets by increasing domestic consumption.
China strategy can be used as a benchmark for other countries that rely heavily on export earnings.
source:kontan.co.id

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Posted in: East Asia's economy,World Bank