Asia-Europe Finance Ministers See Accelerated Economic Growth

Manila Bulletin, July 5, 2003 | Go to article overview

Asia-Europe Finance Ministers See Accelerated Economic Growth


NUSA DUA, Indonesia (AFP) - European and Asian finance ministers on Saturday expressed confidence that economic growth would accelerate over the next year as the combined scourge of war, terrorism, and SARS eased, and welcomed moves to strengthen ties between the two continents.

On the first day of the fifth AsiaEurope Meeting (ASEM) hosted by Indonesia on the resort island of Bali, finance ministers and officials from 10 Asian countries and the 15 European Union states agreed to work together more closely in the financial sector and to reduce world poverty.

The closed-door talks included an update on the economic outlook, with a general feeling of optimism among delegates.

"Asia is coming back," Philippines Finance Minister Jose Isidro Camacho said in an interview with AFP on the sidelines of the meeting.

"There has been a slight pause but there's growth momentum in Asia now and a general sense of cautious optimism across the board for the second half of this year and through to next year."

He said the priority was for ASEM members to work towards more open financial markets, stronger relationships, better governance and improved financial integrity.

German Parliamentary State Secretary Barbara Hendricks quoted World Bank figures forecasting Asia's economy would grow at an average of around 5.9 percent next year, compared to around 2.0 percent for Europe.

"The Asian economy is the fastest growing in the world," she said in an interview. "While expectations for Europe's economy are not as good, we expect growth will improve over the next year" partly due to the diminishing impact of geopolitical forces.

In an opening address, Indonesian President Megawati Sukarnoputri said the challenge was for developed countries to help poorer countries relieve their debt burdens, while poorer countries must improve governance and transparency.

"We need to put that challenge into real action; otherwise we will never reach our objective," she said in a statement read by top economics minister Dorodjatun Kuntjoro-Jakti. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Asia-Europe Finance Ministers See Accelerated Economic Growth
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.