Euro Crisis Could Weaken East Asia

Euro Crisis Could Weaken East Asia

Slow but sure, Euro crisis will attack economic region in East Asia. In this region, ten ASEAN countries, which are Indonesia, Malaysia, Thailand, Brunei Darussalam, Singapore, Philippine, Vietnam, Laos, Cambodia, and Myanmar, plus China, Hong Kong, South Korea, and Taiwan will be inhibited its development.

Euro Crisis Could Weaken East Asia

The latest note from Asia Development Bank shows until the end of next year, this year development would be stuck in 7.2 percent number. It’s a correction from previous appraisal which is only 7.5 percent just like released in September 2011.

As reported by AP News and AFP in Tuesday (6/12/2011), ADB said the decreasing of growth prediction mainly because of the deduction of demand in external market. Problem in Europe region, said ADB, could change into global economic disaster and ended in world economic crisis. “First phase effect will fall on countries which depend much on export market,” said the Chief of ADB Regional Economic Integration Office.

“Second effect, unfortunately will directly attack all developed countries in East Asia economic region,” he added.

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