Asia safe from europe woes, no china hard landing: fitch - China taxi roof lights

SINGAPORE - Asian economies are better shielded from Europe'sfinancial woes than other regions and China is unlikely to undergoa "hard landing" despite recent gloomy data, credit watchdog Fitchsaid Monday. In a media telephone conference, the US-based firm's head ofAsia-Pacific sovereigns Andrew Colquhoun said Asia's limitedexposure to European banks would buffer it against financialdisruption in the debt-stricken continent. "Asian economies are more dependent on foreign households andconsumers buying Asia's exports than they are dependent on foreignbanks providing funding," he said. "Thinking about whether developments in Europe constrain or in anyway cap sovereign ratings in Asia, I can be clear that the answeris no," Colquhoun added. yellow fog light bulbs

Colquhoun said he was less concerned with China's near-termeconomic outlook than other commentators despite a slew of datalast week indicating a weakening in Asia's largest economy. China on Saturday announced it would cut the amount of cash banksmust keep in reserve after its industrial production growth slumpedto a three-year low in April, while trade figures for the monthalso stagnated. The country's economy grew an annual 8.1 per cent in the firstquarter of 2012, its slowest pace in nearly three years, raisingfears of a sharp slowdown. "Fitch expects eight per cent GDP growth in 2012.. China taxi roof lights

We have notrevised that forecast, it was already a somewhat below-consensusforecast and the recent data appeared to be in line with ourestimates," Colquhoun said. "I think that China is experiencing a policy-led slowdown in growthwhich was implemented by the authorities in response to theinflation pressure that emerged last year, and it seems to me wellwithin the parameters of normal policy management," he added. Colquhoun said he expected Chinese authorities to be "broadlycomfortable with the rate of growth of around eight per cent solong as we don't see any adverse impact on the labour market. "I don't expect China to hit a hard landing.. motorcycle fog lights Manufacturer

I think theauthorities will be happy to see growth slow somewhat to take thesteam out of inflation," he added. China on Friday said its consumer price index, the main gauge ofinflation, rose 3.4 per cent year on year in April, easing from 3.6per cent in March due to moderating food prices. Soaring prices have been a politically sensitive thorn in theChinese government's side, with authorities targeting rates ofwithin four per cent this year to curb the potential for socialunrest. Following the bank reserve requirement cut, analysts widely expectthe government to further loosen monetary policy as it looks toboost growth.