The worst of the global financial crisis has passed for 'Developing Asia', a region including China, India and most of Southeast Asia, according to the Asian Development Bank (ADB), which predicted economic growth of 7.5% this year and 7.3% in 2011.
The optimism is based on a recent rebound in global trade and has been led mainly by China and India, according to the ADB. Stimulus packages and monetary easing strategies have contributed to a regional increase in investment.
Regional GDP grew only 5.2% last year, an eight-year low.
The ADB warned that there were still risks if global trade slowed, commodity prices increased or unless regional leaders maintained responsible fiscal and monetary policies.
source & article:
Philippines News Agency
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