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TOKYO (AP) - Soaring inflation is battering Asian economies and threatens to stifle growth, but the still-robust region isn't at risk of a serious downturn, said Asian Development Bank President Haruhiko Kuroda Friday.
Rio Tinto Group, the world's second-largest iron ore exporter, won price increases of as much as 97% from Asian steel-makers, fuelling inflation concerns and adding pressure on BHP Billiton Ltd to settle contracts.
The questions remain as to whether the global economy will gointo a recession and whether emerging economies, especially inAsia, can pull through by their growth momentum. An IMFreport says there is a one-in-four chance of a recession this year.There are those who argue otherwise, pointing out that the globaleconomy's dynamics are different today