World Bank East Asia and Pacific Economic Update 2012, Volume 1 : Capturing New Sources of Growth

The World Bank East Asia and Pacific Economic Update is a comprehensive, twice-yearly review of the region's economies prepared by the East Asia and Pacific region of the World Bank. In this edition, the report notes that growth in developing East Asia and Pacific has remained strong, though it has been slowing from its post-crisis peaks. Domestic demand and investment were generally strong and aided by loosening of monetary policy in some countries. Overall the number of people living in poverty has been cut in half in the last decade in East Asia and Pacific. Domestic demand has proved resilient to shocks; most countries run current account surpluses and hold high levels of international reserves; and banking systems are generally well-capitalized. As external demand is likely to remain weak, countries in developing East Asia and Pacific need to rely less on exports and more on domestic demand to maintain high growth

Description based on print version record.