'Asian giants India, China leading global recovery'

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IANS | 13 Sep, 2010
The International Monetary Fund (IMF) Saturday said major emerging economies like China, India, Indonesia and Brazil are leading the global economic recovery.

"Emerging economies have been sustained by strong domestic demand and the recovery of global trade. Major economies in emerging Asia -- China, India, and Indonesia -- remain in the lead, followed by Brazil in Latin America," said an IMF report on the global economic prospects.

The report said that the investment in the leading emerging economies is accelerating which is one of the main reasons for the economic growth and recovery.

"Fixed investment has begun accelerating beyond its 2009 momentum despite less stimulative policies, suggestive of an increasingly self-sustaining recovery," the report said.

The report also noted the subdued nature of economic recovery in European and the central Asian economies including the Commonwealth of Independent States (CIS).