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In East Asia, the People’s Republic of China has emerged as a leading producer of manufactured exports, with strong growth occurring across a range of sectors, while Mongolia has also experienced strong growth recently. Both countries are active in regional cooperation programs such as CAREC and Greater Mekong Subregion.
ADB’s strategy in China focuses on resource efficiency and environmental sustainability, inclusive growth and balanced development, regional cooperation, and private sector development. In Mongolia, ADB’s assistance is directed mainly at private sector–led economic growth and inclusive social development to achieve the country’s Millennium Development Goals. Total loan assistance to both countries amounted to almost $1.32 billion 2007.
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| Spotlight |
China's Economy Slowing, But Still Strong
Economic growth in the People’s Republic of China (PRC) will moderate in 2008 and 2009, but it will still remain among the world’s fastest growing economies, according to the Asian Development Outlook 2008 Update.
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