Asia must boost domestic spending to recover, IMF says

02/3/2009 | Financial Times (free content)

Asia's economies are on track to recover next year, but they must find ways to increase domestic consumption and reduce their heavy dependence on exports to Europe and the U.S., the International Monetary Fund said. Japan and South Korea, homes of some of the world's biggest manufacturers, posted a record decline in exports in recent weeks. The IMF expects the trend to continue.

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