 East Asia's economies are growing at their swiftest pace since before the financial crisis with fewer people than ever living in extreme poverty.
Economic growth is expected to top 7 percent for the East Asia and Pacific region (excluding Japan); developing economies in the region are expected to expand by more than 8 percent. This strong performance has lifted 40 million East Asians out of poverty, mostly in China, Indonesia, Thailand and Vietnam.
Despite these successes, there are growing concerns that the outlook for 2005 may be less favorable, due to the spike in oil prices, slower growth in rich countries, and downturns in the high-tech and commodity cycles.
"Although 2004 has been a strong year, recent data also suggest that the recovery in East Asia has peaked, and that economic activity is shifting into lower gear," said Mr. Homi Kharas, Chief Economist for the World Bank's East Asia and Pacific Region.
 Interview:
 Â Homi Kharas, Chief Economist, East Asia & Pacific Region
News Release:
 East Asia region set to grow by healthy 7 percent in 2004
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