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ADB - Slowdown in Growth, Difficult Year Ahead for Developing Asia

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Uploaded by on Dec 10, 2008

Jong-Wha Lee, Head of ADBs Office of Regional Economic Integration, discusses the difficult year ahead for developing Asia. Economic growth in developing Asia will slow to 5.8% in 2009, down from a likely 6.9% this year and 9% in 2007, as the impact of the global financial crisis spreads to emerging markets. With the global economy facing a major downturn, the regions economic resilience will be tested by weakening exports and a sharp slowdown of private capital flows.

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