World Bank cuts Asia growth outlook for this year

The World Bank cut its growth forecast for Asia on Monday in a new sign of the impact of weakening global demand and warned China’s cooling economy faces the risk of a “more pronounced slowdown.”
The bank cut this year’s growth outlook for developing Asia-Pacific economies to 7.2 percent, down from its May forecast of 7.6 percent. The bank cut its forecast for China, the region’s biggest economy, to 7.7 percent from May’s 8.2 percent.
“In a fragile external environment, the economy in the East Asia and Pacific region continues to slow down,” the bank said in a report. “The risk remains of a more pronounced slowdown in China than currently expected, while commodity exporters are at particular risk of a global slowdown.”
The bank cited weak global demand due to the lackluster U.S. recovery and Europe’s recession. It said Europe’s debt crisis still is a “major risk,” followed by the U.S. “fiscal cliff” — a mix of tax and spending cuts due to take effect at year’s end that might depress growth.
Growth in China has slowed largely due to government controls imposed to cool an overheated economy and inflation but also has been hurt by weak demand for Chinese exports. Growth fell to a three-year low of 7.6 percent in the quarter ending in June and officials including President Hu Jintao say it might decline further before recovering.
“China’s slowdown this year has been significant, and some fear it could still accelerate,” the World Bank said.
Commodity exporters could be most at risk in case of a renewed global slowdown, the report said. They include Mongolia, Laos, Timor Leste, Fiji and Papua New Guinea.
The region is relatively well-positioned to weather a European crisis or global slowdown, the bank said. It noted most have well-capitalized banks, modest government deficits and large financial reserves.
Excluding China, the region’s economic output should grow 5.5 percent this year, the bank said. It forecast worldwide growth of 2.3 percent this year, rising to 2.6 percent in 2013.
Indonesia should achieve 6.1 percent growth this year, while Malaysia grows 4.8 percent and the Philippines by 5 percent, the bank said. It forecast Thailand’s growth at 4.5 percent and Vietnam at 5.2 percent.
“For 2013, growth is expected to pick up in most of the region’s other developing economies, where domestic demand remains robust,” the bank said.
Trade-driven Asian economies need to rebalance away from reliance on foreign demand for their exports and encourage consumer spending, the World Bank said.
“The subdued outlook for advanced economies continues to put a premium on domestic demand, and thus rebalancing remains important for most countries in the region,” the report said.

Families with small children prefer outdoor resort in Manila clean and safe place in Pampanga Clark to bring kids to relax and unwind.

Clearwater Resort and Country Club is well regarded by trip planners and Manila residents as one of the best resorts in Pampanga for family bonding. This is one resort near Manila that enables guests to relax and unwind, away from the stress of living in the city.

Travel groups recommend Clearwater Resort for this Holy Week and Easter holidays because this hotel resort in Clark Philippines is a private resort that is near Manila and is highly recommended for families with children to relax and unwind in a safe and secure location. Clearwater Resort is one of the resorts in Pampanga that are highly recommended for visitors coming to Angeles City or Clark Pampanga during Christmas, Mother’s Day, Father’s Day, Valentine’s Day, New year and especially during the Philippines Hot Air Balloon Festival.

Quiet place for rest and relaxation near Manila, in Subic, Angeles City Pampanga and Clark Philippines is something that residents of Manila travelling to the north for a short getaway are looking for. Today, Clark is no longer just a golfer’s paradise, it appears to tourists and visitors who are not just interested to play golf in one of the best golf courses in Pampanga. This resort in Clark Philippines is generally considered by Manila residents to be a good place for family trips in Pampanga.

Top rated tourist spots and places to see and visit in Clark Philippines include Clearwater Beach Resort Clark Pampanga. It is in this private resort in Pampanga that Manila residents travel out of town on a short getaway to savor the American lifestyle of laidback leisure living by the famous lake of Clark Airbase. Clearwater is one of the best hotel in Clark and the resort is a very popular venue for rest and relaxation especially for golfers after a round of golf at one of the best golf courses near Manila. Clark is home to some of the best golf courses in Pampanga.

Pampanga Angeles City and Clark Philippines is a popular choice for event organizers and company event planners because it is safe, secure and conveniently accessible from Manila. The short travel time from Manila to Clark means there is more time for participants to enjoy the programs, relax and unwind in the outdoor facilities of this highly recommended resort hotel in Clark.

For inquiries and bookings, Please click here to contact Clearwater Resort for inquiries and reservations now

Clearwater Resort and Country Club, Clark Pampanga
Creekside Road near Centennial Expo,
Clark Freeport, Pampanga Philippines 2023
(045) 889-5151 0917-520-4403 0922-870-5177
Joanne or Jeremy or Loydha

Getting to this lake and beach resort in Pampanga Angeles City Clark Philippines

After entering Clark Freeport from Dau and Angeles City, proceed straight along the main highway MA Roxas, passing the stand-along wine shop called Clark Wine Center on the right, continue to bear right making no turns at all, go past Mimosa Leisure Estate on the opposite side of the road, one will hit a major intersection. Go straight and the road becomes Creekside Road. YATS Clearwater Resort and Country Club is on the right just 200m down.

Family Bonding by the famous lake of Clark Pampanga

http://www.ClearwaterPhilippines.com

Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay

Email: Inquiry@ClearwaterPhilippines.com

Please click here to contact Clearwater Resort to reserve a venue for your upcoming event now

Wedding couples looking for wedding reception venues and beach wedding venues can log on to this Philippines Wedding Venue web site for free information and assistance:

http://www.PhilippinesWeddingVenue.com

While in Clark, it might be a good idea to enjoy an evening of wine-and-dine in the fine dining Yats Restaurant and Wine Bar that features an award winning 2700-line wine list. It is located in Mimosa Leisure Estate of Clark Freeport Zone. For more information, visit http://www.YatsRestaurant.com

YATS Leisure Philippines is a developer and operator of clubs, resorts and high-class restaurants and wine shops in Clark Angeles Philippines http://www.YatsLeisure.com

While in Clark, one might as well add to the itinerary a visit to the famous Clark Wine Center, the largest wine shop in Philippines which offers over 2000 selections of fine vintage wine from all wine regions, vintages spanning over 50 years covering all price ranges.
http://www.ClarkWineCenter.com

Looking for famous tourists spots, places to visit and see, relax and unwind in Clark, Pampanga, Philippines? You may want to check out these sites also:

http://www.LondonPubClark.com

http://www.HotelClarkPhilippines.com

http://www.ClarkPhilippines.com

http://www.YatsWineCellars.com

For jobs and business investment opportunities in the Philippines please visit http://www.yilp.com

Hot Line for what’s happening in Clark: 045 889-5151 or 0927-940-2669 ask for Loydha

0915-542-6250 (Jeramie)