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World Bank Says Asia Shows Strongest Growth in Years - 2004-11-16


The World Bank says the East Asia and Pacific region has produced its strongest economic performance since its financial crisis seven years ago.

In its annual report on the global economy, released Tuesday, the World Bank said gross domestic product in eastern Asia has increased by almost eight percent for the second year in a row.

Much of that growth has been led by China, followed by Malaysia, the Philippines, and Thailand.

The report says output in the region is expected to slow somewhat in the next couple of years due in part to a decrease in foreign trade. But experts say if Asia's growth continues as predicted, Africa may replace Asia as the region with the most poor people in the world.

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