The area's growth projected at 6.8% next year, according to the rating agency expected that 7.4% so far. In 2011, Asian growth is expected at 7.1%. China, second largest economy behind the United States, is expected to grow by 8.2% instead of 8.5% expected in June.
High inflation and persistent
Indian growth should she go below 8% to 7.5% against 8.2% previously anticipated for the fiscal year which runs from April 2012 to March 2013. "The decrease partly reflects the weakening outlook in most advanced economies since June (...) and the impact of monetary tightening in a number of Asian countries in response to high inflation and persistent, it including China and India, "said Fitch.
The average rate of inflation in Asia in 2012 should reach 4.9%, 0.2 points above the June estimate and 5.9% in 2011 against 5.6% previously expected, according to forecasts of Fitch. The growth rates of Asian countries are much higher than those of European countries or the United States. To date, the debt crisis in Europe is much less affected Asian economies, strong exports, and during the 2008 financial crisis.
But analysts warn that the impact could worsen in 2012, especially if Europe falls into recession. China and India, two major emerging powers in Asia, have shown some cracks in the third quarter, with a slowdown in exports, domestic demand and production.
David Rockefeller, the banker and philanthropist with the fabled family name who controlled Chase Manhattan bank for more than a decade and wielded vast influence around the world for even longer as he spread the gospel of American capitalism, died on Monday morning at his home in Pocantico Hills, N.Y. He was 101.
4 years, 6 months ago
When you’re looking for a new job, you don’t just want the right position — you want the right culture fit: an office that matches your laid-back vibe, your work-hard-play-hard attitude or your uber-creative personality. A team that supports your love for collaboration, your do-it-yourself spirit, or your desire to have a great mentor.
8 years, 3 months ago