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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Asia-Pacific poll shows pessimism on economy AFP - Thursday, May 14 WASHINGTON (AFP) - - Opinion leaders in the Asia-Pacific region are pessimistic about the economic outlook for the next 12 months despite signs that the global downturn is easing, according to a newly released poll. ADVERTISEMENT Seventy-four percent of more than 400 opinion leaders from 25 economies across the region expected "weaker to much weaker" growth for the global economy, said the Pacific Economic Cooperation Council (PECC), which conducted the survey. Respondents of the poll, conducted from April 15 to May 6, were just as pessimistic about the outlook for the United States and Japanese economies, with 72 percent and 71 percent, respectively, expecting weaker or much weaker growth. On the other hand, they were more hopeful about top Asian growth drivers China and India, with 54 percent and 49 percent, respectively, expecting weaker to much weaker growth in the two economies, the PECC said. The survey results were released at the annual meeting in Washington of the PECC, a regional think of government officials, business leaders and academicians. The PECC said the respondents, from academia, business, government, civil society and the media, were however less pessimistic than they were in a similar survey it conducted in October last year. Forty-six percent of respondents then expected economic growth to be much weaker for the global economy, compared with 32 percent in the most recent survey. "Respondents have become less pessimistic about the US economy but are more pessimistic about Japan," PECC said. The opinion leaders polled also gave a "far-from-resounding" endorsement on stimulus packages launched by governments to induce growth, the PECC said. "The exception was China: Over 60 percent of respondents were 'satisfied or very satisfied' with the stimulus package taken by Beijing," it said. China announced a four-trillion-yuan (585 billion dollars) stimulus package in November in a bid to boost investment to prop up the economy. While there were substantial differences between the responses of the sub-regions of the Asia-Pacific to actions by the worlds biggest economies, a key feature was the "widespread negative view" of opinion leaders on the response of the European Union to the crisis, the PECC said. The EU, it said, was the only economy/region that received a negative rating for its policy actions on the crisis. Most dissatisfied were respondents from North America. Those from Northeast Asia were the least pessimistic about the prospects for economic growth for all their own economies while respondents from South America were the most pessimistic about prospects for global economic growth. Respondents from Northeast Asia were generally pleased with the way their governments have responded to the crisis in contrast with only 37 percent of those from Southeast Asia. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: China's Economy Asia-Pacific poll shows pessimism on economyAFP - Thursday, May 14 US on track to be top investor in VietnamAFP - Thursday, May 14 Bank of America sells China bank stake for $7.3 blnAFP - Thursday, May 14 Drop China deal for rights issue, Rio holders sayReuters - Thursday, May 14 Related Articles: Business Bond insurer MBIA posts a profit, shares soarReuters - Tuesday, May 12 SUMMARY-Media speculation on Australia's 2009/10 budgetReuters - Tuesday, May 12 Husky says offshore China well may pump 150 mmcf/dReuters - Tuesday, May 12 GM executives dump stock as trading window opensReuters - Tuesday, May 12 NKorean, Brazilian ministers discuss trade, talksAFP - Tuesday, May 12 Enlarge Photo Asia-Pacific poll shows pessimism on economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Australian zoo evacuated after orangutan escape British store admits it boobed in bra row Obese young men have less hope of marriage: study Venezuela oil takeovers may leave 22,000 jobless $70-80 good price for oil: French economy minister View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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