Los Angeles Times, 5 May 2009, AP
SINGAPORE (AP) — Most Asian economies face a sharp contraction this year and a weak recovery in 2010 as global demand for the region's exports struggles to rebound, the International Monetary Fund said Wednesday.
China, the world's third-largest economy, will grow the most of the major Asian countries over the next two years, expanding 6.5 percent in 2009 and 7.5 percent in 2010, the fund said. Singapore's economy, which relies heavily on trade, finance and tourism, will likely shrink the most, contracting 10 percent this year and 0.1 percent next year.
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