ADB Asia can't rely on US consumers for growth

Asia can't rely on exports to the United States for long-term economic growth, because U.S.http://www.blogger.com/post-create.g?blogID=3968536509490894354

consumers will buy less as they increase savings and pay down debt, Asian Development Bank President Haruhiko Kuroda said on Friday.

''I'm optimistic on Asia's short-term outlook but pessimistic on the long term,'' Kuroda said in a speech in Tokyo.

''The U.S. savings rate could rise to as high as 10 per cent and suppress consumption. It's becoming impossible for Asia to rely on the U.S. consumer.''