Asia-Pacific Economic Update, 2012. Volume 3
PACIFIC COMMAND CAMP H M SMITH HI
Pagination or Media Count:
Potentially the most important factors determining Asias economic growth internationally in 2012 are US slow economic growth and the debt crisis in the European Union EU. Clearly, the extent to which Europe can right its economic boat and set sail again will affect the pace of growth in Asia. In addition, the USs capacity to expand its 2011 1.2 trillion in merchandise trade with the Asia-Pacific region in 2012, will impact the regions growth. This paper considers how US economic slowness and the European debt crisis will affect economic growth for Asias trillion dollar club members that is, those five economies with over one trillion in gross domestic product at market prices - Australia, China, India, Japan, and South Korea. Our goal is not to estimate the precise magnitude of the impact, but to highlight where impacts are likely to occur and to suggest whether the impacts will be significant relative to existing forecasts.
- Economics and Cost Analysis