Oct. 3 (Bloomberg) -- Asia-Pacific countries may escape major economic damage from an “almost unprecedented” series of natural disasters that struck the region in the past week.“There will be minimal economic impact because the regions affected are not major sources of growth,” said Song Seng-Wun, an economist at CIMB-GK Securities Pte in Singapore. “For now, this is a human rather than economic story. In fact, there could be a mild boost from reconstruction works.”
Typhoons in the Philippines, Vietnam and Cambodia, an earthquake in Indonesia and a tsunami in the South Pacific highlighted the region’s position as the world’s “disaster hot spot,” according to the United Nations. Asia is leading the global economy from its deepest recession since the 1930s after policy makers slashed interest rates and governments announced more than $950 billion of stimulus measures.
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