Six months on since Asian Development Outlook 2013 was published in
April, developing Asia continues to consolidate its growth as the region’s
two leading economies decelerate somewhat. Growth moderation in
the People’s Republic of China reflects the authorities’ efforts to forge
a more balanced and sustainable growth path than the familiar one
led by exports and investment. In India, poor infrastructure and a lack
of structural reforms continue to weigh on industry and investment,
hampering growth. Regionally, developing Asia’s pace of growth is
expected to ease from 6.1% in 2012 to 6.0% in 2013, before picking up to
6.2% in 2014. Excluding the two regional giants, the rest of developing
Asia can expect growth this year equal to the 4.0% recorded in 201