The International Monetary Fund (IMF) announced in its January 2012 World Economic Outlook that the global GDP growth rate was 3.8% in 2011. However, Asian-Pacific nations bucked this tren..
The International Monetary Fund (IMF) announced in its January 2012 World Economic Outlook that the global GDP growth rate was 3.8% in 2011. However, Asian-Pacific nations bucked this trend. In 2011, Chinas GDP was 9.2% and Indias GDP reached 7.4%. The IMF estimates that global 2012 GDP will grow by 3.3%; Chinas GDP will grow by 8.2%, and Indias GDP will increase by 7%. The global economy is threatened by intensifying strains in the euro area. Financial conditions have deteriorated, and growth prospects are dimming. Lower demand for Asian exports is dragging growth. However, Asian economies continue to remain buoyed by continuing strong domestic demand.
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