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Asia Development Bank Cuts China And Southeast Asia Growth Forecasts

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By Douglas A. McIntyre Updated Published

The Asia Development Bank issued its new 2009 economic forecast.

In the report the organization said the People’s Republic of China is expected to expand by 7% in 2009 on the back of massive fiscal stimulus measures rolled out by the Government, three economies in the subregion – Hong Kong, China; the Republic of Korea; and Taipei,China – are likely to contract as their economies are hit hard by a sharp drop in demand for exports. The China number is a cut from an 8.7% figure in the ADB’s last report.

The analysis also projected that Southeast Asia’s growth is projected to dwindle to just 0.7% in 2009, down from 4.3% in 2008, and the three most export-orientated economies in the subregion – Malaysia, Singapore and Thailand – will also contract, with the most open of these economies, Singapore, likely to shrink by 5%.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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