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Category: News Business Environment
Initial economic recovery with a key roll for Asia?
Since March the stock markets have shown significant growth, the trust indexes of the consumer and companies in both the US and Europe are cautiously climbing out of the dip and the two largest up and coming economies in Asia, China and India have rediscovered the road to growth. Export from the Far East has increased slightly for the first time in some while. These are all indications that seem to show that the worst is over, hard figures however show that it is still too soon to start celebrating.
In Europe the predictions of decline are still being adjusted negatively, at the moment -4% is being used. Joaquin Almania, European Commissioner of Economic Affairs, thinks that there will be no further negative adjustments, ‘the way up is getting closer and closer, the economy is no longer in free fall. In many market sectors the actual decline in demand is limited and I expect therefore cautious recovery next year."
A key roll appears to be saved for Asia. It's not only getting better in India, were orders last month increased significantly, and in China where production figures for the first time in nine months showed growth, but also in Japan and South Korea. In these countries the industrial production quantities increased in the last months with a tempo that few analysts had predicted. The Japanese minister of finance expects the world economy to recover from the financial crisis in the near future, where the ascendance of Asia will play a key roll. As condition, he proposed that the region will have to be less dependent on exports to Europe and the USA.
May 2009