Wednesday, May 30, 2012

Indonesia president warns of Europe's impact on Asia

JAKARTA (AFP) - Indonesian President Susilo Bambang Yudhoyono said Europe's economic woes could hit South-east Asia and warned the region against copying the integrated euro zone model, in comments printed on Wednesday.
Mr Yudhoyono told the Wall Street Journal that the slowdown in China's economic growth, stoked by weak demand from Europe, will 'impact directly on the economy in this region'.

The 10-member Association of South-east Asian Nations (Asean) has set 2015 as the target for creating a single regional economic market, known as the Asean Economic Community.
But Mr Yudhoyono, whose country has the biggest economy in Asean, said the region 'has to learn from what happened in Europe'.
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