::ADB: East Asia Economic Growth at 8.8% would Parking>>

Go Finance report - the Asian Development Bank (ADB) announced that the East Asian economies will grow to 8.8 percent by the end of this year before eventually will slow to 7.3 percent in 2011 amid concerns about the global economy.

This occurs because of the strength of stock markets in the region that continues to rebound, however, the ADB forecast for 2010 is still below the level of 9.6 percent, below the economy's record in 2007.

"After slowing sharply in 2008 and 2009, the East Asian economy recovered strongly in 2010 which has resulted in GDP growth back close to 2007," ADB said as quoted by the official statement on Tuesday (12/07/2010).

Hong Kong, China, Thailand, Philippines, Korea and Singapore are the countries of the 14 countries analyzed in the annual report of the ADB announced.

According to the ADB, East Asia continues to lead the global recovery, with many countries that recorded a strong growth in the third quarter of 2010 driven by domestic demand, "the report said.

Previously, the report estimates the Updated Economic Development Asia (Asian Development Outlook Update) in September, ADB estimates the region's economy will grow 8.4 percent this year after achieving growth of 5.4 percent in 2009.

Estimated growth in 2010 which turned into this higher, mainly due to higher growth in the People's Republic of China from its original forecast that predicted by the ADB will reach 10.1 percent this year. This figure is higher than the previous estimate of 9.6 percent in September. "ADB is still expecting the economy of China will grow by 9.1 percent in 2011," he said.

In particular note the submitted separately on the overall performance of the developing Asian region, the ADB raised the estimated growth in the region to 8.6 percent from 8.2 percent in the estimated rate in September. Estimates for economic growth in developing Asia in 2011 was 7.3 percent.

Growth in Central Asia is now expected to reach 5.9 percent this year compared with a previous forecast of 5.1 percent. ADB estimates that the economy in South Asia will grow by 7.8 percent in 2010, where India is expected to grow by 8.5 percent this year. "Estimates of economic growth in the Pacific region remained at 4.3 percent in 2010," he said.

V-shaped economic recovery in East Asia that is growing, and the challenge for this region is to implement national policies that will change, rapid economic recovery is a long-term economic growth.

Risks that may arise in this area is higher than expected six months ago. Policy challenges arising from the slow recovery in countries with advanced economies, capital inflows, inflation and the price bubble is equally harmful cause instability and protectionism. (GoFinance)