East Asia might be able to achieve economic growth of 5-6% in the next five years, according to development agencies. The bad news is that it probably won’t happen without better infrastructure, and no one has the cash to pay for it.
A joint study by the Asian Development Bank (ADB), Japan Bank for International Cooperation (JBIC) and the World Bank has concluded that developing countries in the region will need to spend US$200 billion a year improving basic services to realize their income potentials. That equals more than $1 trillion by 2010 for transport, electricity, piped gas, information and communications technology, and water and sanitation systems in 21 countries – though 80% has been targeted at just one market, China.
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