IMF raises its forecast for Asian Growth!

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The international Monetary Fund had previously predicted that there would be growth in Asia at rates of 1.2% this year and 4.3% the next year but these predictions have quickly been altered. Now it is said the actual growth will be around 2.8% and 5.8% for the next year. Asia has been the region which has recovered swiftly from the Economic Tsunami. Backed by the 2 powerhouses of the Asian economy, China and India. China is expected to continue leading Asia's economy, growing 8.5% in 2009 and 9% in 2010, fueled by a rapid expansion in investment. India's growth could accelerate to 6.4% in 2010 from 5.4% in 2009, on strong domestic demand.

Vigilance and stepping up in face of challenges are foundations of Asia. It is true that we did learn our lesson from the 1997 disaster and were probably better equipped to deal with this. Government help aided many companies too and also the fact that people did not really stop spending here, online shopping, sales of luxury goods still persisted. Your assets on land or virtually are always going to be safe here in Asia.

Source: http://online.wsj.com
Image: http://media.economist.com 


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