REGIONAL: Macroeconomic Data & Forecasts

October 2004
Asia Monitor: South East Asia Monitor Volume 1;Oct2004, Vol. 15 Issue 10, p8
Country Report
Country Report
This article presents the macroeconomic data for some South East Asian countries including Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, and Vietnam. South East Asia has now fully recovered from the Asian financial crisis (1997-98), and is set to be one of the fastest-growing regions of the world economy in 2004. Still, some economic risks remain. One of the biggest concerns is the abolition on January 1, 2005 of the global quota textile system, or Multi Fibre Arrangement (MFA). It is feared that a number of textile producers will relocate their factories to China once the arrangement expires to take advantage of the country's low costs, improving infrastructure and disciplined labor force. Countries such as Vietnam and Cambodia, where textiles have been one of the main drivers of recent growth, are expected to be the worst hit.


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