Asia recovers but challenges ahead as China cancels steel plant sale in response to worker protests
Aug 17th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
With Japan reporting today that it had emerged from the severest recession since 1945, its annualised growth of 3.7% in the second quarter compares with the four emerging Asian economies which have reported GDP figures for the second quarter (China, Indonesia, South Korea and Singapore), at an average annualised rate of more than 10%. Asia is back not as before the crisis but still in a very strong position. Meanwhile, China announced the planned sale of a state steel plant in response to worker protests.