Weak U.S. and European Economies Weigh on Asia
Source: NYT
The gloom battering the U.S. and European economies is increasingly dragging down Asia, the world’s global growth engine.
South Korea propped up its economy Thursday with an unexpected interest rate cut, and the odds of a similar move in Australia rose after figures showed a weaker-than-expected job market.
In Japan, the central bank trimmed its outlook for growth. China, which dominates the region, is expected to release data Friday that will show a further slowdown in its giant economy.
Combined, the events crystallize the sense that the Asia-Pacific region is increasingly vulnerable to economic chills elsewhere.
Read more: http://www.nytimes.com/2012/07/13/business/global/weak-us-and-european-economies-weigh-on-asia.html?pagewanted=all
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