Abstracts » Business, international

Growth turns inward

Article Abstract:

The Asian Development Bank's Asian Development Outlook report sees a more rapid expansion of trade within Asia than trade with countries outside the region in the next few years. This is attributed to the maintenance of high income-growth levels in the region and greater trade liberalisation in Indochina and South Asia. Asian countries, particularly Japan, South Korea, Hongkong, Taiwan and Singapore, will have to plow their trade earnings back to Asian investments, as US and European investments are increasingly channelled to Latin America and Eastern Europe.

Forecasts and trends, Economic development, Asian Development Bank (Manila, Philippines)

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Asia above the gloom

Article Abstract:

Asian economies are booming and their Gross Domestic Product (GDP) growth rate in 1993 is likely to be an average 7.3%. The rest of the world, however, is facing a recession. The US economy is likely grow at an average of only 2.5-4%, while the German economy's growth is likely to reduce by 0.2% in 1993. Asia's creditable economic performance is because of its reduced reliance on Western economies and an increase of exports within the region. Moreover, Japan's increasing investment in other Asian countries has also contributed to the region's growth.

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The Asia card

Article Abstract:

Japanese investment in Asia from 1950-1990 amounted to a mere 15% of the country's total overseas investment. With the emergence of regional trading blocs, Japanese companies are shifting their investment focus towards Asia, particularly the ASEAN region. However, Japan's overall foreign investment continues to shrink annually, hence no sudden increase in Japanese investment in Asia is expected.

Foreign investments, Japan, Column, Economic policy

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