ID :
209684
Tue, 09/27/2011 - 12:16
Auther :
Shortlink :
https://oananews.org//node/209684
The shortlink copeid
OVERHEATING IN EMERGING MARKETS 'A NON-ISSUE'
KUALA LUMPUR, Sept 27 (Bernama) -- Economies overheating in emerging markets have now become a non-issue as that possibility has become remote with the increased risk of a global recession, says Tower Watson's Global Data Services Practice Leader, Asia Pacific, Rachelle Arcebal.
She said previously, anticipation was rife that Asia's growth was above trend and fears mounted as to how long it would last.
"However, with what is happening now globally, there is no longer that fear," she told Bernama after a media briefing on 2011 Financial Services Total Rewards Survey Finding and Sharing by Towers Watson here on Tuesday.
Asian economies are now expected to see a benign slowdown with China to remain the market lead in terms of growth this year and next year, expanding by nine per cent and 8.5 per cent respectively, she said.
Arcebal said besides the euro zone crisis, Japan’s natural disaster last March has contributed to supply chain disruptions, with recovery at a slow pace.
She said Asian markets would be the least affected by the turmoil in Europe, among others, due to the ample liquidity here.
Emerging markets, she said, should continue to focus on productivity in spite of all the jitters, "as that is something that we can control."
She said rising wages in China would also benefit other low-wage Asian countries as companies would continue to look for alternative low-cost production bases.
-- BERNAMA
She said previously, anticipation was rife that Asia's growth was above trend and fears mounted as to how long it would last.
"However, with what is happening now globally, there is no longer that fear," she told Bernama after a media briefing on 2011 Financial Services Total Rewards Survey Finding and Sharing by Towers Watson here on Tuesday.
Asian economies are now expected to see a benign slowdown with China to remain the market lead in terms of growth this year and next year, expanding by nine per cent and 8.5 per cent respectively, she said.
Arcebal said besides the euro zone crisis, Japan’s natural disaster last March has contributed to supply chain disruptions, with recovery at a slow pace.
She said Asian markets would be the least affected by the turmoil in Europe, among others, due to the ample liquidity here.
Emerging markets, she said, should continue to focus on productivity in spite of all the jitters, "as that is something that we can control."
She said rising wages in China would also benefit other low-wage Asian countries as companies would continue to look for alternative low-cost production bases.
-- BERNAMA
