Asia Economies To Rebound In 2010 But Fears Remain: ADB.

"Asian economies will likely bounce back from the global economic slump in 2010 but fears remain over the sustainability of growth if there is no wider recovery, the Asian Development Bank (ADB) said Thursday. ADB Chief Economist Lee Jong-Wha said the outlook for East Asia this year remained 'pessimistic' but foresaw a V-shaped recovery led by China if countries continue to focus on stimulating domestic demand...." [Agence France Presse/Factiva]

FT adds that "...the ADB's semi-annual Asia Economic Monitor estimated that aggregate gross domestic product growth of the grouping - which includes the 10 members of the Association of South East Asian Nations, China, Hong Kong, Taiwan, and South Korea - would rise from 3 percent this year to 6 percent in 2010. Lee pointed out the estimate is 2 percentage points lower than the region's medium-term growth average, and warned that Asia's domestic stimulus programs would be unable, on their own, to return the region to its previous rates of expansion...." [Financial Times]

Dow Jones writes that "...the ADB report recommended a continued focus on loose monetary and fiscal policies to stimulate domestic demand, with support for small enterprises and stimulus packages that must be fast and efficient.... But non-economic events such as the A(H1N1) swine flu pandemic and political issues such as North Korea nuclearization, with 'low probabilities but potentially large impacts' pose a big risk in the coming months, it said...." [Dow Jones/Factiva]