Asia's Statistical Recovery: A Contrarian View

Since the last edition of BMI 's emerging Asia sovereign risk ratings (see 'Upgrades All Round… Now Comes The Hard Part', December 14), consensus belief in the strength and sustainability of the regional recovery has gone up several gears. In late January, for instance, the International Monetary Fund bumped up its 2010 Asia real GDP growth projection by a whole 1.7 percentage points to 8.4%, which would mark the second fastest pace of expansion since 2000. The World Bank has provided a similarly bullish forecast, pencilling in 8.1% growth.

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