economic impact of sars

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    from ABC Online;

    The economic impact of the SARS (Severe Acute Respiratory Syndrome) outbreak across the world is continuing to widen.

    The effects of the virus and the Iraq war have contributed to the World Bank cutting its growth forecast for east Asia.

    The bank says China with its robust economy and domestic demand should act as a partial buffer for export driven Asian countries.

    However World Bank spokesman Peter Stevens says SARS is having a significant affect on the world economy.

    "Basically we're lowering our expectations by a full percentage point," he said.

    "In some of the bigger economies like Hong Kong and Singapore the SARS virus is accounting for about two per cent reductions in growth and across the region it's the dominant factor in our decision to lower our growth estimates."

    Dave R.
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