World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


Asia-Pacific Region Set to Enjoy Strong Growth

Asia-Pacific Region Set to Enjoy Strong Growth, But Perils Ahead, Warns UN Forecast

New York, Dec 14 2006 4:00PM

A resurgent Japan will help the Asia-Pacific region offset any impact from a slowing United States economy, but there are increasing risks of a downside to the recent strong growth in developing countries, according to a new study by a United Nations regional body.

In its annual forecast, the UN Economic and Social Commission in Asia and the Pacific (UNESCAP) projects the region will enjoy 6.9 per cent growth in gross domestic product (GDP) next year, just shy of the 7.1 per cent growth of 2006.

UNESCAP Executive Secretary Kim Hak-Su credits the end of deflation in Japan as confirmation that the country’s economy, which has struggled for more than a decade, is recovering.

“The Japanese revival has created significant export opportunities for other Asian economies,” he said, adding that to ensure a sustainable economic recovery, the Japanese Government still has to tackle the country’s high domestic debt.

“Any disruption to fiscal consolidation could negatively affect consumer confidence and spending and, in turn, would threaten the Japanese recovery.”

The report indicates that Singapore, Indonesia, Thailand and China stand to gain the most from rising exports if Japanese consumption starts increasing at the same rate as it did in the late 1980s.

But Mr. Kim warned that perils lies ahead for the region, particularly if there is a significant disruption in oil production or problems arising from a falling United States dollar.

“If there is a disorderly unwinding of global imbalances with a sharp fall in the United States dollar, [it] would result in a global recession with severe negative impacts on Asia-Pacific countries.”

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

At The UN: Paris Climate Agreement Moves Closer To Entry Into Force

The Paris Agreement on climate change moved closer toward entering into force in 2016 as 31 more countries joined the agreement today at a special event hosted by United Nations Secretary-General Ban Ki-moon. More>>

ALSO:

ALSO:

Gordon Campbell: On The End Game In Spain (And Other World News)

The coverage of international news seems almost entirely dependent on a random selection of whatever some overseas news agency happens to be carrying overnight... Here are a few interesting international stories that have largely flown beneath the radar this past week. More>>

Amnesty/Human Rights Watch: Appalling Abuse, Neglect Of Refugees On Nauru

Refugees and asylum seekers on Nauru, most of whom have been held there for three years, routinely face neglect by health workers and other service providers who have been hired by the Australian government, as well as frequent unpunished assaults by local Nauruans. More>>

ALSO:

Other Australian Detention

Gordon Campbell: On The Censorship Havoc In South Africa’s State Broadcaster

Demands have included an order to staff that there should be no further negative news about the country’s President Jacob Zuma, and SABC camera operators responsible for choosing camera angles that have allegedly made the President ‘look shorter’ were to be retrained... More>>

ALSO:

Gordon Campbell: On A Bad Week For Malcolm Turnbull, And The Queen

Malcolm Turnbull’s immediate goal – mere survival – is still within his grasp... In every other respect though, this election has been a total disaster for the Liberals. More>>

ALSO:

Gordon Campbell: On Bidding Bye Bye To Boris

Boris Johnson’s exit from the contest for Conservative Party leadership supports the conspiracy theory that he never really expected the “Leave” option to win the referendum – and he has no intention now of picking up the poisoned chalice that managing the outcome will entail... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news