Asia Nations Record 6% Economic Growth
The developing countries of Asia chalked up healthy economic growth of 6% in 1987, but the figure is likely to drop in 1988 due to recessionary trends, a U.N. report said Monday.
“The developing countries of the Asian-Pacific region achieved enviable growth in 1987 despite growing uncertainties in the global economy and the costly effects of unfavorable weather in many countries,” said a year-end report issued by the U.N. Economic and Social Commission for Asia and the Pacific.
The report by the Bangkok-based commission said the high growth, an average 6%, was due mainly to economic expansion in China and a handful of newly industrializing countries.
China with 9.5% growth in gross domestic product, Korea with 12.1%, Taiwan with 11% and Hong Kong with 12.1% led the region.
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