Asian growth forecasts

Asian growth forecasts
Sep 20th 2007 From The Economist print edition

Asia is a bright spot in an otherwise darkening outlook for the world economy. The 43 developing countries in the region are expected to grow by 8.3% in 2007 and 8.2% in 2008, says the Asian Development Bank in an update of its 2007 Outlook. The bank has revised up the forecasts it made in March, largely based on the stronger performance of China and India. Although developing Asia is expected to slow only marginally in 2008, there are risks to that forecast. A recession in America that affected Japan and the euro area would hit growth in Asia too. But large foreign-exchange reserves and more robust financial systems mean that the region is better equipped to weather a downturn.