IMF sees Asia continuing to lead global recovery

来源：百度文库 编辑：神马文学网 时间：2024/04/28 06:13:54

IMF sees Asia continuing to lead global recovery

08:11, October 22, 2010      

Email | Print | Subscribe | Comments | Forum 

Increases the bookmark twitter facebook digg Google Windowslive Delicious buzz friendfeed Linkedin diigo reddit stumbleupon

Asia remains firmly in the lead of the global economic recovery and strong growth in the region is set to continue, according to a report released by the International Monetary Fund (IMF) Thursday.

"The expansion in Asia exceeded expectations in the first half of the year, prompting the Fund to revise up its 2010 growth forecast for the region to 8 percent, nearly 1 percentage point higher than its April forecast," the IMF said in its latest Regional Economic Outlook (REO) for Asia and the Pacific.

The Washington-based international financial institution said that economies across the region are expanding strongly.

"China and India are leading the way with projected 2010 growth rates of 10.5 percent and 9.7 percent, respectively, while Indonesia is expected to grow by 6 percent. In Japan, growth is now projected at 2.8 percent."

The fund expects that regional growth in 2011 will reach a more sustainable pace of 6.8 percent.

However, the IMF noted that strong economic growth was leading to new policy challenges.

"Inflationary pressures are continuing to build, while prices in some property markets are growing at double-digit rates," it said.

With Asia set to remain an attractive destination for foreign investment, given the sluggish recovery in the U.S. and Europe, capital inflows could add further to domestic price pressures in the period ahead, the report said.

The time had therefore come for countries in the region to normalize monetary and fiscal policy stances, according to Anoop Singh, Director of the IMF's Asia and Pacific Department.

"We welcome the steps so far taken by policymakers to control inflation risks and limit the build-up of financial sector vulnerabilities but more now needs to be done, given the continued strong growth in the region," Singh said.

The IMF also said Asian economies needed more skillful management of capital inflows into the region, noting that it was a difficult challenge.

"These inflows present many opportunities, but they also pose potential risks to financial stability," it said.

Source: Xinhua

  • China says President Hu's state visit to U.S. 'far-reaching'

  • Chinese political advisors make suggestions on 12th five-year plan

  • South Korean consulate in Wuhan to open soon

  • The longest bridge group built in Zhoushan, Zhejiang Province

  • Beijing, Shanghai named int'l face of Chinese mainland cities

  • Chinese 4G mobile standard goes global

  • China: No secret deals on Diaoyu Islands

  • China to further boost farm produce distribution

  • Hint of typhoon Megi throws life in disarray

  • China launches own online map service

    • Should China take actions to recover Diaoyu Islands?

    • China, a lonely military superpower?

    • France is burning

    • 'Cyber shield' makes NATO invincible?

    • The 'Cold War' in clean energy

    • Is China rare earth policy that evil?

    • The longest cat in the world

IMF sees Asia continuing to lead global recovery Global recovery proceeding, but fragile: IMF China to lead global innovation: report Chinese enterprises lead global IPOs in Q3 Employment to remain a continuing challenge Employment to remain a continuing challengell How Not to Lead Geeks [Bernstein09] Section 7.3. Introduction to Database Recovery China asked to lead fight on piracy West needs to know Asia better Is American Imperialism back to Asia? EU council to discuss partnership with Asia Wen pledges to promote Asia-Europe cooperation Southeast Asia looks to expand business Premier Wen to affirm Chinese commitment to East Asia IMF's Special Adviser calls for global governance Hybrid rice to popularize on global scale Chinese firms prefer JVs to go global FireWire, 1394, I.Link: All Roads Lead to Convergence 9 Tips in Life that Lead to Happiness China to lead world in innovation by 2020: survey Gartner: China to dominate Asia chip market by 2011 Bringing life back to Asia's 'dead' sea - CNN... UN chief to visit Asia, attend ASEAN summit