Asian Development Bank

The annual Asian Development Outlook provides a comprehensive economic analysis of 43 economies in developing Asia and the Pacific. The views expressed in this book are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank or its Board of Governors or the governments they represent. The Asian Development Bank does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. Use of the term “country ” does not imply any judgment by the authors or the Asian Development Bank as to the legal or other status of any territorial entity. Foreword This Asian Development Outlook (ADO) 2007 Update revises upward the forecast for growth in developing Asia for 2007 to 8.3 % from the 7.6% forecast earlier this year, in ADO. This reassessment stems from the exceptionally strong performance of Asia’s giants—the People’s Republic of China (PRC) and India. Buoyed by exports, investment, and consumption, the PRC poste