">Forum Views ()
">Forum Replies ()
Read more with google mobile :
ADB chief sees signs of Chinese recovery
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:
ADB chief sees signs of Chinese recovery
AFP - Wednesday, May 6
NUSA DUA, Indonesia (AFP) - - The Chinese economy may have already bottomed out and started to recover from the global financial crisis, the Asian Development Bank president said Tuesday.
ADVERTISEMENT
Haruhiko Kuroda told reporters at the end of the bank's annual meeting in Indonesia that there were also strong signs that Japan and South Korea were turning the corner after months of negative growth.
But he said a full recovery in Asia would depend on how quickly the United States and Europe fixed their financial sectors in the aftermath of the banking crisis.
"I think in this meeting as well as from various statistics already released the Chinese economy may have already bottomed out and (entered) the recovery phase," Kuroda said.
"And very interestingly the Korean economy in the first quarter of this year made some growth... This is very interesting because it recorded huge negative growth in the fourth quarter of last year.
He also pointed out that even in Japan, which experienced the worst economic contraction in almost 35 years in the fourth quarter of last year, industrial production has picked up.
"And so there are some signs of bottoming out or recovery and some economies like China may be on the recovery course and could recover much earlier than other economies," he said.
But Kuroda said he did not expect Asia to fully emerge from the crisis until the end of 2010, when the ADB has predicted the region will be growing at around six percent compared to just 3.4 percent this year.
A lot would depend on how quickly the major Western economies can stabilise their financial systems to free up international capital markets.
"We have to be very cautious because first the financial sectors in the US and EU must be fixed, they must be stabilised," he said.
Asian share markets rallied strongly Monday on the back of improving indicators across the region and gains on Wall Street suggesting the US economy may be turning the corner.
China's 1,624 listed companies posted a combined net profit of 203.8 billion in the first three months of this year, a fourfold improvement over the fourth quarter, the official Xinhua news agency reported Monday.
Meanwhile Japan's factory output rose 1.6 percent in March from the previous month, the first increase since September, triggering a buying spree Monday on the Japanese stock market.
Email Story
IM Story
Printable View
Blog This
Related Articles: China's Economy
Services sector slump less severe in AprilReuters - 1 hour 46 minutes ago
Duke 1Q profit falls 26 percent as industry slowsAP - 1 hour 47 minutes ago
Bernanke: Economy should grow again later in 2009AP - 1 hour 48 minutes ago
Bernanke sees U.S. economy turning up this yearReuters - 1 hour 55 minutes ago
Related Articles: Business
Pier 1 shares climb to 7-month high after NYSE OKAP - 1 hour 17 minutes ago
ATM maker Diebold 1Q profit falls, cuts jobsAP - 1 hour 22 minutes ago
Turkish markets gain as inflation fallsReuters - 1 hour 29 minutes ago
India cbank to conduct only morning LAF auctionsReuters - 1 hour 33 minutes ago
Bernanke sees U.S. recovery this yearReuters - 1 hour 35 minutes ago
Related Full Coverage
China Economy
china economy
All Full Coverage
Most Popular – Business
Viewed
US banks may need more funds
Court okays breast removal for transsexual teen: report
Kenyan women to sex-starve men -- for politics
Swine flu in decline: Mexico
Brain abnormality found in autistic tots: report
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
Other News on Tuesday, 5 May 2009 Panama's president-elect to push U.S. trade deal
| International
|
North Korea cool to resuming nuclear talks
| International
|
Karzai registers for election, running mate criticized
| International
|
Iran shells Iraqi Kurdistan village
| International
|
U.N. talks on troubled nuclear arms pact show split
| International
|
Fight against pirates also needed ashore: U.S. Navy
| International
|
BlackBerry Curve seen better than iPhone
| Technology
|
RIM plans next-gen Storm as it eyes untapped market
| Technology
|
EU hearing on Microsoft antitrust case in June
| Technology
|
Duff McKagan a rock 'n' roll renaissance man
| Entertainment
|
Twilight and Slumdog top MTV Movie nods
| Entertainment
|
NBC rolls out 6 new shows in bid to rescue ratings
| Entertainment
|
Madeleine McCann will be found, parents tell Oprah
| Entertainment
|
Angels & Demons director sees Vatican meddling
| Entertainment
|
Flu-hit Mexico plans recovery
| International
|
Turkish wedding attack kills 45
Turkish wedding attack kills 44 in blood feud
| International
|
Spanish judge to probe Gaza air raid
Nepal parties try to form government after Maoists quit
| International
|
Netanyahu says ready for peace talks right away
| International
|
Iran supreme leader rebukes president over powers
NY Times postpones threat to close Boston Globe
U.N. to press Israel on Lebanon border village
Karzai registers for election, running mate criticized
| International
|
Brain abnormality found in autistic tots: report
Israel dispatches envoys to soften hawkish image
Fiat boss touts plans for new car giant
Karzai registers for Afghan vote with warlord
Creditors object to Chrysler deal, setting up fight
Climate change 'cultural genocide' for Aborigines
Iraq's Maliki in Paris seeking investment
Israel's Peres omits mention of Palestinian state
FTC looks at Google-Apple board ties: report
| Technology
|
Bigger Kindle e-reader may not be a newspaper fix
| Technology
|
Struggling US newspapers look to e-readers
Police: Proof is in the pudding in Pa. burglaries
California judge blunts Internet false advertising law
| Technology
|
High-tech start-ups training academy to open
Pa. museum may allow DNA test of Lincoln's blood
Bernanke likely to give less dour take on economy
Michelin steers iPhone users to fine dining
EU hearing on Microsoft antitrust case in June
| Technology
|
Authorities seek SoCal tot reported kidnapped
Bigger Kindle e-reader may not be a newspaper fix
Hudson River to be site of Macy's July 4 fireworks
Basque parliament to elect Socialist leader
HP, RIM form Blackberry alliance
Child advocate wants octuplet guardian appointed
Blackberry Curve tops iPhone in first quarter: NPD
US, Israel at odds on Iran, Palestinians
Berlusconi snaps back in melodramatic divorce battle
SKorea and US forge deal to fight cyber attacks
Students back at NYC school after swine flu scare
Mass. police get burned as 4,000 teens flood beach
NY Times postpones threat to close Boston Globe
EU hearing on Microsoft antitrust case in June
Cowboys assistant coach set for surgery
Cat Stevens to Coldplay: It sure sounds like my song
| Entertainment
|
TV announcer Ed McMahon settles malpractice case
| Entertainment
|
Outlaw Ned Kelly's descendants demand his remains
Wolverine weekend box office nudged lower
| Entertainment
|
Australia detains boatload of suspected refugees
Director Polanski will not attend U.S. court hearing
| Entertainment
|
Woody Allen objects to Farrow, Soon-Yi as witnesses
| Entertainment
|
Report: NKorea operating cyber warfare unit
Nicolas Cage car stunt goes wrong in Times Square
| Entertainment
|
Australian, UK WWI dead to get military funeral
Faster-paced Da Vinci Code sequel premieres in Rome
| Entertainment
|
Typhoon death toll in Philippines climbs to 25
Nepal in turmoil, Maoists threaten street protests
China plans to emulate success of Korean women
Mexico lashes out against Chinese quarantine
Pakistan peace deal under fire amid attacks
Nepal's prime minister resigns amid power struggle
NZ commodity export prices rise in April-survey
NZ new car registrations slide in April
Taiwanese tycoon challenges Buffett's investment
Indians scramble for world's cheapest car
China economic boost helps stock market rally
US, Japan press China on computer rules
Indian stocks up 6.4 pct on global recovery hopes
US-ENTERTAINMENT Summary
Cormac McCarthy receives PEN award
"Wolverine" weekend box office nudged lower
Faster-paced "Da Vinci Code" sequel premieres in Rome
Cat Stevens to Coldplay: It sure sounds like my song
Indonesia anti-corruption chief arrested in murder
NBC takes its medicine: New nurse, paramedic shows
Nicolas Cage car stunt goes wrong in Times Square
`Twilight,' `Slumdog' lead MTV award nominees
Polanski won't appear at LA court hearing
'Wolverine' a howling success at box office
Georgia accuses Russia over foiled rebellion
| International
|
Gates says U.S. to persist with Iran overtures
Residents flee Pakistan's Swat as truce collapses
| International
|
Iranian president to meet Palestinians in Syria
Merkel recalls brutal Communism at Stasi prison
| International
|
Israel angered over 'biased' UN report on Gaza war
Spain could open second Guantanamo torture probe
| International
|
UN refugee body: Security improved in Iraq's south
Arrest of top activists shakes Zimbabwe unity deal
China to stage 50,000-troop military drill: report
| International
|
Iran court to hear U.S. reporter's appeal
Fiat's grand plans hit resistance
Gates says U.S. to persist with Iran overtures
| International
|
Hopefuls sign up for Iranian election
Adidas net profit sinks 97% in first quarter
Around 30 reported killed in Afghan clashes
U.S. presses new Israeli government to back two-state solution
| International
|
Swiss bank UBS issues corporate credit warning
Netanyahu ready for peace talks
US banks may need more funds
Greek court rules first same-sex weddings invalid
| International
|
Jimmy Fallon takes top Webby award
| Technology
|
EU issues consumer online rights, lists action ideas
| Technology
|
Former Fla. House Speaker will seek US Senate seat
US anti-trust inquiry into Google, Apple
Mass. man charged in family plot keeps guilty plea
Car crashes into eatery in NY movie stunt; 2 hurt
Vivendi CEO Levy to chair Activision Blizzard
White House to seek input on education law
Bigger Kindle e-reader may not be a newspaper fix
| Technology
|
California judge blunts Internet false advertising law
Vivendi CEO Levy to chair Activision Blizzard
| Technology
|
US reporter's appeal to be heard next week in Iran
Georgia troops mutiny, govt accuses Russia
On May 5, Mexican dominance irks other Latinos
Pregnancy may help Briton avoid firing squad: Laos
Iran to hear appeal soon for jailed US reporter
Laid-off Mo. factory worker, 65, trains to be cop
Mental health courts increase despite debate
Taos events mark 'Easy Rider' anniversary, '60s
A year on, 'number two' view still dogs Medvedev
Conservatives tipped for EU vote win
Police: Homemade liquor kills 15 in eastern India
Star Trek aims to stun fans
| Entertainment
|
Sri Lanka says rebel leader trapped
Friends give Tilda Swinton alcoholic inspiration
| Entertainment
|
Two Koreas prepare further Kaesong estate talks
Billy Elliot leads race for Tony Award
| Entertainment
|
SKorea finds first Asia case of person-to-person flu
Fans beam about new Star Trek: online poll
| Entertainment
|
Mexicans leave China quarantine on chartered plane
Jimmy Fallon takes top Webby award
| Entertainment
|
Search for US poet in Japan to be scaled down
Plane arrives for Mexicans held in quarantine
Koreas consulting over new round of official talks
China reject latest US report on religious freedom
ADB chief sees signs of Chinese recovery
Philippine inflation dips to 4.8 percent in April
Pakistani share market edgy over fighting in NW
China shares hit 9-month high on rebound hopes
Philippine inflation slows to 4.8 pct
Asian lender under scrutiny after capital boost
An Obama bump for lucky novelist
China's Hainan Airlines halves Embraer jets order
Friends give Tilda Swinton alcoholic inspiration
Malaysia's ex-PM made adviser to national airline
Rihanna returns to red carpet at New York gala
Bangladesh remittances up despite global recession
White Stripes drummer Meg White to wed this year
'Idol' finalist Lambert impresses rocker Slash
GM says China sales set new record in April
Superstore chain looks to `make' hits
Pine makes maiden voyage as `Trek' Captain Kirk
`Angels & Demons' premieres in Rome with Tom Hanks
Israel's Hebrew Catholics keep the faith
Australia may pay for obesity surgery: report
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights