‘India, China lead Asian recovery'

[sajiv]

'India, China lead Asian recovery'

New Delhi:

Driven by India and China, emerging Asian economies will no longer witness slump, which will lead to a global recovery, UK financial services major Barclays has said.

"The slump in activity in emerging Asia is over. We believe the region returned to positive growth of the aggregate level in the first quarter of 2009 — driven by China and India — and the recovery is broadening to the more open industrial economies in 2009," Barclays Capital, an investment banking arm of Barclays, said. Barclays Capital included 10 Asian economies — India, China, Taiwan, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Thailand and Hong Kong — in its study.

It said it expected the recovery in Asia to arrive slightly earlier than the rest of the world, reflecting relatively stronger balance sheets and the significant fiscal and monetary stimulus.