According to the World Bank, Asian companies are recovering faster than expected
from the Asian economic crisis. Asian corporations that restructured their often
bloated, bureaucratic operations are seeing brisk turnarounds according to a
World Bank survey of 4,000 companies in South Korea, Malaysia, the Philippines,
Indonesia and Thailand.
In South Korea, for example, the economy is expected to grow about 2 percent
in 1999 – up from a 5.5 percent decline in 1998 according to a recent
International Monetary Fund Report.
Source:
Asia rebounding faster than expected, World Bank says. Todd Zaun, Associated
Press, May 24, 1999