Asian economies to fly over US turmoil?
The Asian Development Bank (ADB) forecasts Asian economies will register solid growth in 2008, despite a slowdown in major industrial economies, surging food and fuel prices and the credit crisis in the US. The prediction comes as US Federal Reserve Bank Chairman, Ben Bernanke, told a congressional panel that the US economy may shrink over the first half of 2008 (though he did not use the word 'recession').
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