World's economic engine

While growth in the economies of countries in the East Asia Pacific region is expected to slow, it remains the fastestgrowing region in the world, according to the East Asia Pacific Economic Update released just by the World Bank. It predicts that the pace of growth in the region, excluding China, will pick up next year, as the gradual recovery in high-income economies boosts demand for exports from the region. Developing East Asia will grow by 6.9% this year and next, down from 7.2% in 2013, the report says. Chinese growth will “ease slightly” to 7.4% this year and 7.2% in 2015. Logistics performance will be one of the factors influencing growth in individual countries, as there are significant differences across countries, suggesting opportunities to catch up.