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Regional overview : special focus - Asian trade and poverty during crisis and recovery in China, Indonesia, Korea, Malaysia, The Philippines, Thailand, Vietnam (English)

East Asia's recovery continues at an impressive pace. Growth for the region as a whole was 6.4 percent in 1999 and is on a pace to exceed that rate in 2000. The transition countries of China and Vietnam have moved to sounder ground on a high growth plateau. China and Vietnam both have suffered mightily during earlier periods of isolation from the world economy, and have concluded that the benefits of returning to the world economy substantially outweigh the costs. Moreover, they recognize that it is important for them to enter the world trading system under the best available rules. To this end, China has pursued liberalization through a combination of its own liberalization and through liberalization agreed as part of the process of accession to the WTO. Vietnam has followed the same broad approach, but is using AFTA membership as a stepping stone towards more comprehensive liberalization. This year it has taken an decisive step. One external risk has been the threat that festering regional political conflicts could explode into violence, and could cut short the region's recovery. Three issues command constant attention: tensions across the Taiwan straits, tensions on the Korean Peninsula and political events in the Indonesia.


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    East Asia and Pacific,

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    East Asia and Pacific,

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    Regional overview : special focus - Asian trade and poverty during crisis and recovery in China, Indonesia, Korea, Malaysia, The Philippines, Thailand, Vietnam

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Regional overview : special focus - Asian trade and poverty during crisis and recovery in China, Indonesia, Korea, Malaysia, The Philippines, Thailand, Vietnam (English). East Asia Update Washington, D.C. : World Bank Group.