East Asian nations must act promptly to ease the burden of mounting food and fuel prices on the region's poor. The Bank said growth in developing East Asian economies could slip by 1 to 2 percentage points this year to 8.5% as the US credit crisis unfolds, damping demand for exports. FED Chairman testified in Congress today re the negative scenario for the first half of this year.
The report also trimmed its 2008 growth forecast for China to 9.4 % but said it should be robust enough to help drive the global economy as the United States and other industrialized countries slow. Such assessment reinforces the significance of Sino-Americn Economics in the 21st century.
US Secretary of Treasury is visiting China and conferred with President Hu concerning trade and economic relations for strategy concerns. I mentioned the same expections as my vision apropos of the benefit of mutual benefits to enforce the Law of Comparative Advantage of trade relations. www.ask.com: Work and Study Cycle Theory. American consumers want to save money especially during the present hard times to buy less expensive Chinese products for budget reasons. Cf. ECONOMIST magazine for feature articles.
Francis Shieh a.k.a. Xie Shihao, a witness of increasing strategic economic activities of USA and China. April 2, 2008 at 9.45 p.m.
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