Economies in East Asia will grow 5.7 percent in 2007 with China spearheading the region despite slowing growth in the United States, a major market for Asian exports, a regional think-tank said on April 18. Overall growth in the Asia Pacific region is tipped at 4.3 percent this year and 4.5 percent in 2008, still down from 5.0 percent last year, the Pacific Economic Cooperation Council (PECC) said in a report based on its forecasts for 19 economies.

While East Asian economies will lead the region, their 5.7 percent growth will be down from the 6.3 percent last year, PECC said. The report said China’s current account surplus will rise to 315 billion US dollars this year and top 364 billion in 2008.