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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.

Details

  • Document Date

    2000/09/01

  • Document Type

    Working Paper

  • Report Number

    27011

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    East Asia and Pacific,

  • Region

    East Asia and Pacific,

  • Disclosure Date

    2003/10/17

  • Doc Name

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

  • Keywords

    share of world output;commission on security;external terms of trade;equity market;reduction in tariffs;foreign direct investment;higher interest rate;high oil price;reduction in poverty;commercial bank;world economy;cost of capital;domestic investment climate;high growth rate;rapid growth rate;average tariff rate;engine of growth;interest rate tightening;elimination of trade;international trading system;special economic zone;corporate bond market;domestic equity markets;barrier to entry;world trade growth;foreign exchange rate;world trading system;stable interest rate;preferential trading arrangements;merit good;metal working industry;debt equity swap;capacity utilization rate;sovereign bond market;private debt flow;current account surplus;errors and omission;valuation of asset;drag on growth;public sector debt;process of reform;stock market capitalization;gdp growth rate;nominal interest rate;loan loss provision;tier 1 capital;foreign trade regime;interest rate liberalization;capital account liberalization;free trade treatment;oil importer;small country;domestic policies;global economy;real gdp;Financial Sector;monetary policy;Exchange Rates;small economy;finance company;Capital Inflows;global growth;economic recovery;Economic Stimulus;global demand;foreign creditor;public debt;nontariff barrier;tourist arrival;positive growth;external demand;tariff reduction;retail trade;external environment;private capital;domestic debt;demand shock;foreign investor;International Trade;investor confidence;negative capital;external position;religious violence;capital restructuring;banking asset;fiscal policy;capital injection;domestic consumption;private investor;banking restructuring;portfolio investment;unsecured loan;customs administration;financial restructuring;Public Spending;merchant bank;debt service;Fiscal policies;corporate restructuring;Bankruptcy Law;bankruptcy decision;debt system;bank profitability;large debtor;operational oversight;state bank;high tariff;anti-dumping measure;trips agreement;primary product;tariff binding;bilateral negotiation;world market;bilateral quotas;risk premium;export good;import good;state trading;local trade;export revenue;trade integration;asian crisis;private property;household insecurity;public expenditure;financial asset;expansionary phase;price distortion;domestic growth;home sales;investment regime;investment policy;regional policy;input use;policy shift;trade monopoly;wealth effect;asset price;external events;political conflict;corporate profit;consumer sentiment;rail link;bilateral agreement;reform process;trade process;agricultural commodity;external market;intellectual property;export performance;liquidity crunch;fiscal deficit;Macroeconomic Policy;corporate accounting;crisis affected;debt level;debt dynamic;fiscal stance;consensus forecast;upward pressure;public fund;airline company;tourist industry;sugar crop;economic diversification;external tariff;sugar production;economic repercussion;garment production;contract investment;private consumption;retail sale;policy question;trading partner;global environment;fiscal pressure;subsequent agreement;transition countries;market development;administrative measure;private investment;Investment Flow;Fiscal Stimulus;investment trust;globalized economy;inflation rate;budget institution;impaired asset;consumption expenditure;agricultural performance;business sector;outstanding loan;restructuring program;increased trade;interest income;capital base;regional banks;specialized bank;financial system;saving rate;treasury bond;dollar market;short-term capital;market performance;agricultural growth;net outflow;native land;domestic investor;land lease;rural income;lost income;legal framework;subnational levels;reform effort;transition country;public post;hard budget;construction sector;reform design;government activity;state ownership;administrative mechanisms;state monopoly;price rise;political strife;interest cost;Labor Market;fiscal crisis

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Citation

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. http://documents.worldbank.org/curated/en/721551468770109135/Regional-overview-special-focus-Asian-trade-and-poverty-during-crisis-and-recovery-in-China-Indonesia-Korea-Malaysia-The-Philippines-Thailand-Vietnam