OFFBEAT MAIL

Economic growth in the East Asia and Pacific region may slow down by a full percentage point from 8.2 percent in 2011 to 7.2 percent this year, before recovering to 7.6 percent in 2013. Growth in developed countries will remain modest, with recovery in the region to be driven mainly by strong domestic demand in developing countries, said the World Bank in its East Asia and Pacific Economic Data Monitor, released today. The new report says that weak exports and lower investment growth will cut down China's GDP growth from 9.2 percent in 2011 to 7.7 percent this year. In 2013, however, China's growth is expected to rebound to 8.1 percent as the impact of stimulus measures kicks in, supported further by an uptick in global trade. "The East Asia and Pacific region's share in the global economy has tripled in the last two decades, from 6 percent to almost 18 percent today, which underscores the critical importance of this region's continued growth for the rest of the wo...

The recently concluded 40th ASEAN Ministerial Meeting, which Manila hosted, took stride in attaining the most ambitious plan that would eventually unify the Association of Southeast Asian Nations in so far as economic integration is concerned. This would, in effect, put into stream the European Union-style of economic governance, which will pave the way for the establishment of regional free trade zone by 2015. Although many analysts considered this move as too ambitious, knowing how advance countries would react to such a plan, whose rules are now being ironed out to make it once and for all, a reality. Another aspect that was brought to the table and discussed by the ASEAN ministers focused on creating a human rights body in the region, which the Myanmar generals didn't seem to agree. Records showed that Myanmar has remained a human rights violator, after it has failed to free Nobel Peace laureate Aung San Suu Kyi, a signal that is expected to restore democracy in that part of As...