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Japan:
Second India-Japan strategic dialogue on economic issues
China:
India-Brazil-South Africa to cooperate in health sector
South Korea:
South Korea Gives US Beef The All Clear
India:
Indian government approves re-structured APDRP
Pakistan:
Restoration of Indo-Pak dialogue to push trade
Singapore:
India-Brazil-South Africa to cooperate in health sector
Thailand:
Fastest Growth for Thailand Economy in Six Quarters
Taiwan:
Taiwan Enjoy Expanded Trade Surplus
Indonesia:
Central Bank Chief Of Indonesia Detained
Malaysia:
Malaysia economy grows and banking liberalises
Asian Development Bank reports on Asian Tsunami economic effects
by Brian TurnerThe Asian Development Bank (ADB) has reported on the expected after-effects of ths Asian Tsunami disaster, and reports that it predicts 2 million people will be thrown into poverty.
Because no major cities or manufacturing infrastructure was affected, economic growth is not expected to be significantly reduced in the general South-Asia area. However, the lowest economic classes are expected to be the worst affected in the short to mid-term, not least because of coastal farming areas being inundated with salt water.
Although debt relief has been offered, only Sri Lanka, Indonesia, and the Seychelles have taken up offers of debt relief so far. Other nations have refused to accept credit holidays, on the grounds that they would face investment downgrades on their credit rating, leading to higher long-term borrowing costs.
India and Thailand have especially cited strong economic growth, exchange rates, and strong stock markets, as empowering their nations with the economic power to rebuild coastal areas and tourism markets.
Sri Lanka and the Maldives are two countries the Asian Development Bank especially considers as being at risk, with Sri Lanka estimating its own reconstruction costs as being in the region of $3 billion.
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