Bleak outlook for Asian growth

ASIA - The era of the "Asian Tigers" is over, at least for the next 12 months, as economic growth in Asia slows sharply in the wake of 11 September.

So says the Asian Development Bank (ADB), which is warning that the economies of Hong Kong, Taiwan and Singapore will contract this year.

Along with South Korea - which is expected to grow 2% rather than the 4% predicted before - these "newly industrialised economies" represented the great success stories of the 1980s and early 90s.

Japan's econo