Asian economies heading towards full recovery in 2010The ADB also said Asian economies were expected to lead the recovery from the global financial crisis with growth anticipated to quicken this year to 6.6 percent.
"The region is already well into the recovery phase, leading the global economy out of recession ... 2010 looks as though it will resemble something closer to normal for the Asia-Pacific region," Moody's said in a report forecasting the Asian economy. [...]
Many economists agree with the analysis that ultimately a rebalancing of growth is needed away from exports to the West and more towards fostering local demand instead.
Asia must look at boosting domestic demand to cut its reliance on foreign consumers, especially in the hard-hit United States, IMF chief Strauss-Kahn said.
"Asian countries themselves have a big enough market to generate the demand now developed countries fail to," said Zhao Xiaoyu, Vice-President of ADB, "but this requires countries to make concerted efforts under regional cooperative platform."
http://news.xinhuanet.com/english2010/indepth/2010-02/13/c_13174472.htm
