Asia Pacific
Postcards
China New
What do you do if your country is on the way to becoming one of the most polluted places on earth? Do you reek in the smoke of a million cars or do you search for alternatives? The Chinese, it seems, prefer to search for alternatives, turning to electric bicycles for a green salvation.
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Monthly Economic Reviews
Asia Pacific New
In a new report titled the Global Economic Prospects 2010, the World Bank forecasts global gross domestic product (GDP), which fell by 2.2% in 2009, to grow 2.7% this year and 3.2% in 2011 on a purchasing power basis. China is expected to expand 9% this year, leading growth in East Asia and the Pacific.
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Country Profiles
Thailand
With exports accounting for more than two-thirds of GDP, Thailand’s largest export market remains the U.S. Other major markets include Japan and Europe, with automobiles serving as one of Thailand’s major exports.
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Australia
For the June quarter, the Australian economy expanded at the weakest pace in more than three years with growth rising by 0.3% from the previous quarter. GDP also grew 2.7% for the same quarter compared to a year earlier.
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China Updated
The world financial crisis of 2008 pulled China’s meteoric GDP down considerably. As the financial world imploded, China found that its export-oriented model would come under severe duress. This prompted a nervous government to introduce one of the largest stimulus programs ever in order to guide China through 2009 and 2010.
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