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China recovery fuels E Asia's rebound: WB

(Xinhua)
Updated: 2009-11-04 17:02

The economic rebound in East Asia and the Pacific has been surprisingly swift and very welcome, but take China out of the equation, and the regional picture is less rosy, a World Bank report released on Tuesday showed.

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The latest East Asia and Pacific Update, entitled "Transforming the Rebound into Recovery," says large and timely fiscal stimulus spending in most East Asian and Pacific countries -- led by China and South Korea -- along with a powerful process of inventory restocking now underway, have driven the rebound in the region and significantly boosted confidence in a global pick-up.

Developments in the East Asia and Pacific region remain strongly influenced by China, where the projected GDP increase in 2009 will offset three quarters of decline in the GDP of the United States, the Eurozone and Japan.