IMF: Asia can't risk depending on exports to U.S.

05/7/2009 | Asia News Network

Governments across Asia must take measures to boost domestic spending because in the future they will be unable to depend on income from exports to the U.S. and other developed economies, where the era of easy consumer credit has ended, the International Monetary Fund said. "Over the long horizon, Asian economies are at risk of a structural decline in demand from advanced economies," the IMF said in a report on the consequences of the economic crisis for Asia.

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