Europe does a U-turn on Asia

Article Abstract:

European banks advise clients that southeast Asia still has growth potential in the long term, but the short-term outlook looks bleak. Thailand and South Korea are expected to record negative growth, but banks expect Malaysia, Philippines, Singapore, and Hong Kong to have 2 to 3% growth in 1998, compared to 7% growth common in 1996. Development in Asia is also having an impact on Europe's production, but growth in the European Union will help compensate for Europe's fewer orders from Asia.

Analysis, Europe, International relations, Asia, International economic relations

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Pressure of millions on Estrada's reign

Article Abstract:

Philippine President-elect Joseph Estrada is faced with the challenge of delivering on the country's high expectations. Estrada has no illusions about the enormity of the task he faces and makes no promises for greater prosperity. The national government budget may go into deficit in 1998 because of the country's economic slowdown.

Forecasts and trends, Political activity, Political aspects, Economic development, Philippines, Estrada, Joseph P.

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