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Combined gross domestic product (GDP) in the nine largest economies 1 grew by over 8.1% in the first quarter of 2007 (Q1), marginally lower than 8.2% in 2006, supported by strong consumption growth and external demand (Figure 1). 2 In the first half of 2007, the People's Republic of China's (PRC) economy grew by 11.5%. In the year to March 2007, GDP growth was 5.6% in the four middle-?income countries of the Association of Southeast Asian Nations (ASEAN-?4), above 2006 levels. However, the four newly industrialized economies (NIEs)?Hong Kong, China; Republic of Korea (Korea); Singapore; and Taipei,China?moderated in Q1, with GDP growth slowing to 4...
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