ADB Ups Asia GDP Forecasts |
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April 13, 2010
The Asian Development Bank raised its 2010 economic growth forecast for developing Asia, but cautioned that maintaining strong momentum will be challenging once governments start withdrawing the stimulus that has driven the region's recovery.
The Asian Development Bank raised its 2010 economic growth forecast for developing Asia, but cautioned that maintaining strong momentum will be challenging once governments start withdrawing the stimulus that has driven the region's recovery.
The bank on Tuesday also warned of rising risks of asset-price bubbles in China and Hong Kong.
"Asset prices in Hong Kong and China have returned to pre-crisis levels. We are concerned that the bubble risks will spread to the region," ADB chief economist Jong-Wha Lee told reporters in Hong Kong.
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