Asia's economic growth in 2010
By Ring Yang
Although the forecast for worldeconomic growth remained at a low single digits, the Asian economyis expected to grow by up to 7 percent in 2010. Over the sameperiod 7 - 9 months, its economy grew by 8.9. As usual, India istrailing and Japan lagging far behind.
"So far, data around the world suggests the recovery isproceeding and Asian economies will continue to pace globalgrowth," said David Cohen, chief of Asian forecasting at ActionEconomics in Singapore.
China's economy, now the world's third largest, is only abouta third the size of the US economy, but the country's ascent as amanufacturing power lent it the heft to help prevent an even worseglobal downturn.
However, despite a resurgence of confidence is growing inpopularity, arts and crafts export markets despite the long-termweakness in support of growth continues to recover, many Asianeconomies is still the greatest challenge facing.
Massive liquidity flowing into Asia — too much cash chasingtoo few profitable investments — has pushed stock and propertyprices sharply higher in some markets, raising worries about freshasset price bubbles and risks of fresh crises in the financialsector.
Reference by Philstar