A meeting of Asian and European economic ministers, meant to

A meeting of Asian and European economic ministers, meant to
be China's first high-profile post-SARS event, is likely to be
marred by European no-shows and a Chinese reluctance to touch the
hot issue of the yuan.

The question of whether the Chinese currency is undervalued is
expected to be on many participants' minds during the fifth Asia
Europe Meeting (ASEM) of economic ministers in the northeastern
port city of Dalian this week.

2. S'pore

3 x 20

S'pore to achieve
2003 growth targets:
Deputy PM Lee

Singapore to achieve 2003 economic growth targets: deputy PM Lee

Singapore should achieve its economic growth target of between
0.5 and 2.5 percent this year now that East Asia has brought SARS
under control and the U.S. economy is showing signs of recovery,
a top official said Tuesday.

Deputy Prime Minister Lee Hsien Loong said more tourists are
coming back, hotels are enjoying higher occupancy rates and
retail sales are recovering after the Severe Acute Respiratory
Syndrome (SARS) viral outbreak was contained in late May.

Singapore's gross domestic product contracted 4.3 percent in
the second quarter to June largely due to the impact of SARS
which wrought havoc on the tourism sector and dented consumption
spending.

Lee said in a speech to trade unionists the economy was now on
track towards recovery.

3. Pussie

1 x 32

Aussie warned against U.S. FTA deal

Australia warned against free trade deal with the U.S.

Australia is jeopardizing its economic and security interests
by pursuing a free trade deal with the United States which will
discriminate against its Asian trading partners, one of the
nation's leading trade experts warned on Tuesday.

Professor Ross Garnaut, a former adviser to prime minister Bob
Hawke's government and now an academic with the Canberra-based
Australian National University, said there were also major flaws
in officials' claims as to the value of the deal to Australia.

4. Hongkong

1 x 32

HK deflation worsens due to SARS

Hong Kong deflation worsens as SARS continues to hit spending in
June

The pace of deflation in Hong Kong picked up sharply in June
as the effects of the SARS outbreak continued to depress consumer
spending, the government said on Tuesday.

It said that consumer prices fell 3.1 percent in June compared
with a year earlier after a fall of 2.5 percent in May as the
impact of Severe Acute Respiratory Syndrome (SARS) continued to
be felt.

A government spokesman noted that although SARS had been
brought under control, consumer demand remained weak.