The eurozone’s debt problems won’t be limited to Europe, the world’s leading importer of many products, but could spread far and wide. Exporting nations in East Asia will have little choice but to expand their own markets, the World Bank advises, according to a report from the BBC News. “Risks emanating from Europe have the potential to affect the region through trade and financial linkages,” the World Bank report suggests. Slowing growth in China also signals the need for Asian economies to expand their own domestic markets.
The World Bank anticipates growth to slow to 7.6 percent from 8.2 percent. Slower expansion in China is largely responsible for that drop, though East Asia is expected to remain the world’s economically strongest region in 2012. – YaleGlobal The eurozone debt crisis could harm the growth of East Asian economies, the World Bank has warnedBBC News, 1 June 2012Rights:BBC © 2012