November 15, 2007

World Bank: East Asian economies strong (AP)

A Chinese worker pumps gas for motorists at a gas station of PetroChina in Chengdu of southwest China's Sichuan province in this Nov. 1 2007 file photo. While oil is fueling the rapid growth of China, India and other emerging economies, energy companies are going to ever more remote areas to meet that demand.  (AP Photo/Color China Photo)AP – East Asian economies are likely to remain healthy next year despite the impact of the widening subprime lending crisis in the U.S. and the renewed increase in crude oil prices, the World Bank said Thursday. The region’s rapid growth is also reducing poverty, although income inequality is expanding.

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