ING Barings says domestic demand needed to boost Asia

Quality of local markets will be important for stimulating Asia''s economies in 2002.
China, Hong Kong, Indonesia, the Philippines and South Korea are the Asian economies most likely to see better growth when the US economy bottoms out at the end of the first quarter in 2002.

That is the verdict of Tim Condon, chief economist for Asia with ING Barings, who was addressing journalists at a press briefing in Hong Kong yesterday.

Condon, in common with many of his peers, sees US recovery as vital to the economic fortunes of Asian countries, and despite the current air of uncertainty following the events of September 11, Condon is confident that the US will see better growth from early next year.

The policy response, both monetary and fiscal,...

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