Asia's economies may have been dragged by a slowdown in China, but they'll still power most of the world's growth, the International Monetary Fund (IMF) said Tuesday.
"Asia is impacted by the still weak global recovery, and by the ongoing and necessary rebalancing in China," said Changyong Rhee, director of the Asia-Pacific Department at the IMF, in a statement.
"But domestic demand has remained remarkably resilient throughout most of the region, supported by rising real incomes, especially in commodity importers, and supportive macroeconomic policies in many countries."
The Asia Pacific region is expected to grow at a strong 5.3 percent this year, accounting for nearly two-thirds of global growth, the IMF said in its Regional Economic Outlook. That would still mark a tick down from last year's 5.4 percent growth.
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