By Satyagraha Jakarta (Antara) - Unstable demand from developed industrial countries and China's economic slowdown is affecting Asian developing countries, according to a latest report from the Asian Development Bank (ADB). "Trade and investment have so far been part of Chinese growth. The decline in the trade volume and investment which has not recovered yet has slowed down growth in the region. But weak growth has occurred in other Asian developing countries," said ADB Chief Economist Changyong Rhee in a press release received here Tuesday. The latest ADB report revises economic growth projection in 45 Asian countries in 2013 to 6.3 percent and 6.4 percent in 2014. In its previous report issued in April 2013, ADB projects 6.6 percent growth in 45 Asian countries this year and 6.7 percent in 2014. Whereas, China as one of the countries with a high economic growth rate, is projected to grow 7.7 percent in 2013 and 7.5 percent in 2014 The ADB report also mentions a drop in export and import figures due to weak demand from developed countries, but people's confidence and purchasing power tend to increase. Although China's weakening economic growth affects the economy in East Asia, economic growth in Southeast Asian countries like the Philippines, is still quite strong and stable. Meanwhile, slow improvement and bureaucratic reform to overcome obstacles in business has helped lower India's economic growth projection in 2013 from 6 percent to 5.8 percent. (*)

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