India and China escaped last year’s US economic slowdown, which successfully
transmitted to other emerging economies of Asia, Institute of
International Finance based in United States said in its annual overview report
on economies of Asia.
"The after-effect of US economic slowdown towards the end of 2000 has been
observed throughout Asia, except in India and China," the finance report said.
The two nations escaped the slowdown effects which resulted in cooling
export growth and aggravating underlying structural imbalances left from the
1997 financial crisis in Asia, the report said.
The institute estimated a growth rate of 5.5 per cent for India in 2001 and
5.8 per cent in 2002 whereas for China, it estimated growth of 7.5 per cent
for both this year and the next.
- nriol.com report
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