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East Asia & Pacific Update , April 2009 - Download Graphs

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Figure 1.
The region’s middle-income countries withstood the financial turmoil well because they were better prepared
than in 1997-98
Figure 2.
Real GDP growth has slowed fast
Figure 3.
Openness to trade and export concentration explain a sizable part of the impact of the crisis on growth


Figure 4.
Purchaser managers have become more optimistic in China and more pessimistic in Philippines

Figure 5.
Industrial production has
fallen sharply

Figure 6.
The decline in exports led the slowdown in industrial production

Figure 7.
Inventories have risen as a share of shipments
Figure 8.
Capacity utilization has
Figure 9.
The region’s exports relative to GDP are among the highest among emerging markets, 2008

Figure 10.
Exports have fallen sharply
in a synchronized fashion,
Figure 11.
The annual contractions in exports are oversized,
January 2009
Figure 12.
The region’s exports have fallen most sharply to Japan, average November’08-January’09

Figure 13.
And the income impact from the decline in commodity prices is the largest for the poorer countries (in percent of GDP)
Figure 14.
Foreign bank claims have been reduced
Figure 15.
More people will remain in poverty as a result of the crisis

Figure 16.
The number of poor is projected to increase in Cambodia, Malaysia, Thailand, and
Timor-Leste in 2009
Figure 17.
The crisis will slow the pace of poverty reduction in the region
Figure 18.
Nonperforming loans are relatively low for most countries, but concerns are emerging

Figure 19.
Monetary easing has helped reduce interbank rates except in Indonesia
Figure 20.
Credit growth in Cambodia and Mongolia has slowed after reaching nearly 100 percent earlier
Figure 21.
Currencies have weakened in most countries except China and the Philippines

Figure 22.
The contribution of stimulus and automatic stabilizers in 2009 varies
Figure 23.
The size of stimulus packages varies substantially
Figure 24.
Most packages biased toward spending measures

Figure 25.
The size of stimulus packages falls short of output gaps
Figure 26.
Financing requirements are burdensome for some governments
Figure 27.
Domestic bond yields have risen

Figure 28.
Corporate spreads in Indonesia have risen substantially more than government spreads
Figure 29.
Real GDP growth: U.S., Eurozone and Japan
Figure 30.
Export growth, U.S., Eurozone and Japan

Figure 31.
Automobile sales have fallen sharply
Figure 32.
Industrial production is contracting
Figure 33.
Equity prices have collapsed after peaking in late 2007

Figure 34.
Interbank rates have eased, but worries about liquidity, counterparty risks, and the economy remain
Figure 35.
Spreads on emerging market sovereign bonds have eased but remain much higher than before the crisis, 2007-2009
Figure 36.
Corporate borrowing spreads have also risen substantially, 2007-2009

Figure 37.
Excess reserves in the U.S. and the eurozone
Figure 38.
Foreclosures in the U.S. have surged
Figure 39.
And the CBO projects the impact on GDP in the U.S. to offset only partly the impact of the crisis

Figure 40.
Commodity prices have firmed of late
Figure 41.
Oil prices have stabilized due to the OPEC cuts, but inventories have surged
Figure 42.
The contribution of developing East Asia to global output in 2009 is the largest in the world

Figure 43.
China’s increase in nominal GDP has surpassed that of the U.S. since 2007 and is the largest in the world
Figure 44.
And the change in China’s nominal imports exceeded that in the U.S. since 2007, 2000-2008
Figure 45.
Recessions with crunches, housing and equity busts last longer

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