World Bank cuts Asia growth outlook for this year

The World Bank cut its growth forecast for Asia on Monday in a new sign of the impact of weakening global demand and warned China’s cooling economy faces the risk of a “more pronounced slowdown.”
The bank cut this year’s growth outlook for developing Asia-Pacific economies to 7.2 percent, down from its May forecast of 7.6 percent. The bank cut its forecast for China, the region’s biggest economy, to 7.7 percent from May’s 8.2 percent.
“In a fragile external environment, the economy in the East Asia and Pacific region continues to slow down,” the bank said in a report. “The risk remains of a more pronounced slowdown in China than currently expected, while commodity exporters are at particular risk of a global slowdown.”
The bank cited weak global demand due to the lackluster U.S. recovery and Europe’s recession. It said Europe’s debt crisis still is a “major risk,” followed by the U.S. “fiscal cliff” — a mix of tax and spending cuts due to take effect at year’s end that might depress growth.
Growth in China has slowed largely due to government controls imposed to cool an overheated economy and inflation but also has been hurt by weak demand for Chinese exports. Growth fell to a three-year low of 7.6 percent in the quarter ending in June and officials including President Hu Jintao say it might decline further before recovering.
“China’s slowdown this year has been significant, and some fear it could still accelerate,” the World Bank said.
Commodity exporters could be most at risk in case of a renewed global slowdown, the report said. They include Mongolia, Laos, Timor Leste, Fiji and Papua New Guinea.
The region is relatively well-positioned to weather a European crisis or global slowdown, the bank said. It noted most have well-capitalized banks, modest government deficits and large financial reserves.
Excluding China, the region’s economic output should grow 5.5 percent this year, the bank said. It forecast worldwide growth of 2.3 percent this year, rising to 2.6 percent in 2013.
Indonesia should achieve 6.1 percent growth this year, while Malaysia grows 4.8 percent and the Philippines by 5 percent, the bank said. It forecast Thailand’s growth at 4.5 percent and Vietnam at 5.2 percent.
“For 2013, growth is expected to pick up in most of the region’s other developing economies, where domestic demand remains robust,” the bank said.
Trade-driven Asian economies need to rebalance away from reliance on foreign demand for their exports and encourage consumer spending, the World Bank said.
“The subdued outlook for advanced economies continues to put a premium on domestic demand, and thus rebalancing remains important for most countries in the region,” the report said.
http://business.inquirer.net/86006/world-bank-cuts-asia-growth-outlook-for-this-year

Clark Wine Center is more than a wine shop to people living in Pampanga Angeles City Clark Freeport Zone. Clark’s wine shop is also a popular venue for parties and family gatherings. Conveniently located on the main highway of Clark Philippines, it is accessible to guests from Manila, Subic, Pampanga, Angeles City and of course those who live and work in Clark. Aside from the 2-storey wine shop which also has a nice roof deck lawn for small party of up to 80 people as well as an indoor wine tasting room which accommodates up to 60 comfortably, this wine store called Clark Wine Center also has one hectare of picnic grounds surrounding it.

Best birthday gift to send to someone living in the Philippines is a nice bottle of wine from Yats Wine Cellars. Delivery of birthday wine can made to Manila, Angeles City Pampanga, Clark Philippines and Subic.

Wine Shop Manila offers best luxurious beers in Philippines called Vintage Beer.
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Things to do in Clark Pampanga: do a little wine shopping at the famous wine shop outside of Manila called Clark Wine Center located inside Clark Freeport Philippines. One of the favorite places to visit in Pampanga Clark Freeport is the white building along M A Roxas highway of Clark which houses over 2000 selections of fine vintage wines. The Clark Wine Center is one of the places to visit, a tourist spot and a good shopping place for those staying in Angeles City, Subic or Clark Pampanga.

Yats Leisure Philippines

This Manila Wine Shop is the largest wine shop in Philippines. This is the wine shop to go for fine vintage wines, not just the big names like Lafite, Latour, Petrus, Cristal, Krug, Grange, Vega Sicilia and Sassicaia. This wine shop in Manila offers many excellent vintage wine for under p4,000, even for some that are 20-30 year old from St. Emilion and Pomerol.

Clark Wine Center is lauded by wine and food lovers from Manila and tourists from abroad as the best place to buy wine in Pampanga or Subic or Tarlac.

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http://www.ClarkWineCenter.com

Getting to this wine shop in Pampanga Angeles City Clark Freeport Zone Philippines from Manila
Getting to the Clark Wine Center wine shop from Manila is quite simple: after entering Clark Freeport from Dau and Angeles City, proceed straight along the main highway M A Roxas. Clark Wine Center is the stand-along white building on the right, at the corner A Bonifacio Ave. From the Clark International Airport DMIA, ask the taxi to drive towards the entrance of Clark going to Angeles City. From Mimosa, just proceed towards the exit of Clark and this wine shop is on the opposite side of the main road M A Roxas.

Best place to buy wine in Clark Pampanga outside Manila near Subic and Angeles City Philippines is Clark Wine Center.

Click here to contact Clark Wine Center in Clark Pampanga for inquiries and orders.

Clark Wine Center
Bldg 6460 Clark Observatory Building
Manuel A. Roxas Highway corner A Bonifacio Ave,
Angeles Clark Freeport Zone, Pampanga 2023
0922-870-5173 0917-826-8790 (ask for Ana Fe)

Wine@Yats-International.com

YATS Wine Cellars
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 ask for Rea or Chay

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While in Clark, it might be a good idea to enjoy an evening of wine-and-dine in the fine dining Yats Restaurant and Wine Bar that features an award winning 2700-line wine list. Highly recommended fine dining restaurant in Manila for special occasion is Yats Restaurant & Wine Lounge located in the famous Mimosa Leisure Estate in Clark Pampanga. Situated near this popular restaurant in Clark is the Mimosa Golf Course as well as the Mimosa Clark Casino. This top rated restaurant near Angeles City Pampanga in Clark Philippines is frequently used for private parties and corporate functions such as board meetings and other gatherings. It is located in Mimosa Leisure Estate of Clark Freeport Zone. For more information, visit http://www.YatsRestaurant.com

YATS Leisure Philippines is a developer and operator of clubs, resorts and high-class restaurants and wine shops in Clark Angeles Philippines http://www.YatsLeisure.com

Looking for famous tourists spots, places to visit and see, relax and unwind in Clark, Pampanga, Philippines? You may want to check out these sites also:

http://www.LondonPubClark.com

Besides good restaurants to wine and dine near Manila, Subic or in Angeles City Pampanga, Clark Philippines, those requiring assistance for hotel and resort bookings in Clark, Pampanga, Philippines may log on to http://www.HotelClarkPhilippines.com for more information and reservations.

The lifestyle in Clark Pampanga is quite unique. For more information about shopping, sports, golf, leisure, hotel accommodation, where to see and visit, what to do, where to wine and dine and good places to hang out, relax, have a drink with friends, child-friendly establishments, log on to
http://www.ClarkPhilippines.com

Wine lovers looking for a special bottle or something that is of great value and special discounts might log on to this web site to shop for fine vintage wines
http://www.YatsWineCellars.com

Those visitors who plan to relax and unwind in Angeles City, Subic, Pampanga, Clark Philippines might make an effort to book a room at the famous beach and lake resort Clearwater Resort & Country Club. This famous hotel in Clark Pampanga is frequently visited by families with children looking for a good place in Clark to see, a good holiday destination for the family to relax and unwind in the beautiful outdoor facilities. For more information, log on to www.ClearwaterPhilippines.com

Buy wine in Cebu, Philippines at good wine shops and boutique wine stores that offer good selection of good vintage wines at all price points. Good white wines that available at the wine shops in Manila and Pampanga include Puligny Montrachet, Chassagne Montrachet, Pouilly Fuisse, Corton Charlemagne, Montrachet, Batard Montrachet and Beaune. This makes it easy and convenient for wine lovers to buy wine in Manila. Manila wine and food lovers looking for things to do in Pampanga and Manila can consider attending one of these wine events. The best way to learn more about wine in the Philippines is to attend public wine tasting events that have no sponsors.