World Bank: Growth in Developing East Asia Strong, but Slowing

The World Bank says growth in East Asia’s developing economies remains strong, but warns they need to reduce their reliance on exports as the global economic slowdown continues. The Washington-based lender said in a biannual report Wednesday that it expects growth to slow to 7.6 percent this year in developing East Asia, which excludes Japan. That is down from 8.2 percent in 2011. While it said most East Asian economies were well-positioned to handle further external shocks, …

The World Bank says growth in East Asia’s developing economies remains strong, but warns they need to reduce their reliance on exports as the global economic slowdown continues.

The Washington-based lender said in a biannual report Wednesday that it expects growth to slow to 7.6 percent this year in developing East Asia, which excludes Japan. That is down from 8.2 percent in 2011.

While it said most East Asian economies were well-positioned to handle further external shocks, …