Darkening US outlook will not undermine Asia

A forecast for the year ahead, and how oil prices and the US economy will affect Asia.

The continued rise of international oil prices and depreciation of the dollar will push economic growth in the US down to about 2.5% in 2005. These factors will have little impact on economic growth in the EU, where GDP growth is expected to accelerate modestly. Stronger economic fundamentals in the EU will support continued impressive economic growth in non-Japan Asia.

Oil Demand Growth to Outstrip Supply Growth Again in 2005

In cumulative terms, global oil demand increased by 12% between 1999 and 2004. Cumulative global oil supply increased by only 8.6% during the same period. Between 1999 and 2001, OPEC-engineered oil production cuts reduced global...

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