久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

Global General

Special

Newsmaker

Asia Pacific

America

Middle East

Europe

Africa

$50trln lost in global crisis, Asia suffers worst

(Xinhua)
Updated: 2009-03-09 10:21

MANILA -- The global crisis slashed value of financial assets worldwide by $50 trillion in 2008, with developing Asia suffering the worst among emerging market regions, a study released on Monday said.

Related readings:  Shanghai Expo to help overcome crisis, official says  Crisis also means opportunity: President Hu  Is Asia able to save its economic growth?  World Bank: Global economy will shrink in 2009

Losses on financial assets in developing Asia last year totaled $9.6 trillion, or just over one year's worth of gross domestic product (GDP), said the Asian Development bank in its latest study.

"Asia was hit harder than other parts of the developing world because the region's markets have expanded much more rapidly," the study said, noting that the value of financial assets to GDP rose to 370 percent of GDP in developing Asia in 2007 from 250 percent of GDP in 2003.

It said most emerging market economies are at a crossroads and the next 12 to 18 months will be very difficult, the study said, and a recovery can only now be envisaged for late 2009 and early 2010.