Thread: Economics: East Asia 2009

Here's a thread for East Asian economics. Things are slowing down as we know in the nations: Japan, South Korea, China, Taiwan, Vietnam, Thailand, Singapore.

Asian financial crisis deepens

By Geoff Dyer in Beijing and Michiyo Nakamoto in Tokyo

January 22, 2009

Asia’s largest economies showed stark new evidence on Thursday of contagion from the global financial crisis as China reported its slowest growth in seven years and Japan’s central bank admitted it faces two years of contraction and deflation.
The Bank of Japan sharply reduced its forecasts for the economy for this fiscal year and next, while government figures showed that Japanese exports plunged a record 35 per cent in December.

Adding to the gloom in the region, South Korea unveiled its first year-on-year decline in quarterly economic growth since the Asian financial crisis more than a decade ago, while unemployment in Taiwan rose to a five-year high.

Link: FT.com / Asia-Pacific - Asian financial crisis deepens

We all know that the East Asian economies are slowing. Here's a graph.

Asian economies

Published: January 22 2009 09:20 | Last updated: January 22 2009 20:02

Asian tigers are losing their growl. Economic growth is evaporating, jobs are disappearing and the continent is home to some of the world’s most unpopular leaders. The latest figures only highlight this fall from grace. China, the world’s third-biggest economy, grew at half its 2007 rate in the fourth quarter of last year, a “mere” 6.8 per cent. South Korean output, meanwhile, shrank by 3.4 per cent over the same period. Singapore believes its economy could contract by 5 per cent this year.


EDITOR’S CHOICE

Asian financial crisis deepens - Jan-22


Editorial Comment: Only by spending can Asia save itself - Jan-22


Interactive feature: Asia economic weather map - Jan-22


Comment: China offers hope amid export gloom - Jan-22


Data leave economists cautious - Jan-22


Japan faces two years of contraction - Jan-22




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Link: FT.com / Lex / Macroeconomics & markets - Asian economies