30 Nov '11, 6am

Euro zone woes are jeopardising Asia's economic growth, ADB chief says

Euro zone woes are jeopardising Asia's economic growth, ADB chief says

Asian Development Bank president Haruhiko Kuroda speaks during an interview with AFP on the sidelines of the Fourth High Level Forum on Aid Effectiveness in the southeastern port city of Busan on Nov 29, 2011. -- PHOTO: AFP BUSAN, South Korea (AFP) - Asia's projected growth rate of 7.5 per cent next year could be jeopardised as the euro zone crisis threatens its export-driven economies, the Asian Development Bank chief said. ADB president Haruhiko Kuroda said even China may face difficulties if demand from Europe - its largest export market - slows further. 'Developing Asia (excluding Japan, Australia and New Zealand), from our forecast will grow 7.5 per cent this year as well as next year,' he told AFP late Tuesday on the sidelines of a major aid forum. 'But the 7.5 per cent growth next year is subject to greater uncertainty because Europe is having a financial crisis,' s...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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