Survey of growth outlook in Asia paints a bleak picture

Article Abstract:

Forecasts for the Asian economy are depressing. Hong Kong's GDP fell 2% in the first quarter of 1998 with only a 1% growth forecasted for 1999. Malaysia's economy is forecasted to grow 0.5% in 1999 while Singapore's GDP is forecasted to increase by 1.2%. Forecasts for the 3 countries expected to be unscath by recession have been cut back. China's GDP dropped from 7.7% in May 1998 to 7.3% in June. June 1998 forecasts for Taiwan's GDP fell from 5.7% in May to 5.3%. The Philippines is expected to grow by 1.9% in 1998 and 3.5% in 1999.

China, Forecasts and trends, Economic forecasting, Philippines

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Roots of Asia crash are sought in corporate performance

Article Abstract:

Studies on the Asian economic crisis showed that the private sector had a major role in the crash theories ranging from crony capitalism to declining returns on assets and low productivity growth. The papers revealed that the most distinct feature common to almost all of the region's economies was an intense degree of family ownership and control of listed enterprises. Also, various measures of corporate performance did not indicate clear patterns in the years prior to the economic crash.

Asia, Financial analysis, Economic indicators

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East Asia faces slower growth over the next ten years

Article Abstract:

World Bank officials claim that economic growth among East Asian countries would be reduced from an annual rate of 9.2% to 7.6% by the year 2007 as a result of the current stock market and currency crisis. The multilateral agency, however, noted that East Asia would be one of the rapidly growing economies in the future, together with some Latin American and Eastern European countries. Central Asia is also expected to improve, with a forecasted 4.5% increase in average annual growth rate.

Evaluation, Economic development, Latin America, East Asia, Central Asia

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