CHINA Among Asian policymakers and economists, confidence is soaring. Just a year after the global financial crisis began with the collapse of Lehman Brothers, forecasts for growth in gross domestic product are being revised upwards all over Asia.
The World Bank says that China’s economy will expand by 7.2 per cent this year, up from a forecast of 6.5 per cent in March. Japan’s most recent figures showed a seasonally adjusted expansion of 0.9 per cent in the second quarter, equivalent to an annual growth rate of 3.7 per cent, although deep-seated problems suggest Japan is likely to grow slowly next year.
