Asian growth set to slow in 2001

After rebounding in early December, Asian markets retraced their gains, leaving the FTSE Pacific Basin ex Japan index 1.8% higher in local currency terms, but 1.8% down in sterling terms on the month. The markets were dragged downwards by the poor performance of the technology-heavy Nasdaq market of the US and the US economy slowed more rapidly than expected. We expect Asian economic growth will slow down this year from the exceptional pace in 1999-2000. As always, differences in growth between countries are likely. Growth in China, Hong Kong and Singapore should remain relatively robust, ...