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April 27th 2005

UN warns of Asian economic slowdown

In a recent report, the UN warned that Asia may soon experience a collective economic slowdown. The report was upbeat, in that it  forecasted regional real GDP growth of 6%. However, this figure represents a sharp drop from last year, when real GDP topped 7%. The report attributes this slowdown to a rise in global commodity prices and a weaker USD. The US is the world’s largest buyer of Asian manufactured goods, and the weak USD makes Asian exports comparatively more expensive. The report also advised China to cool its economy, and prevent bubbles in asset prices from expanding. VOA news reports:

"Provided the growth is accompanied by faster productivity, that will be much better," a UN economist said. "But if growth is accompanied by more investment, that will just drive up inflationary pressures in China, which has implications in the rest of the world."

Read More: UN Predicts Slower Growth for Asian Economies

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Posted by Adam Kritzer | in Exotic Currencies | 1 Comment »

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One Review of “UN warns of Asian economic slowdown”

  1. Kelly Says:

    Adam is smart.

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