Like China, South Korea, Taiwan, Thailand, and other NIEs and ASEAN countries also experienced continued economic growth driven by domestic demand, although inventory adjustments in IT-related goods are casting a shadow on the outlook for exports. Overall, it is very likely that emerging and commodity-exporting economies will continue to show relatively high growth due to robust domestic demand and capital inflows from overseas.
A similar relationship will naturally also exist with the euro-11, whose meetings will generally be attended by the President of the ECB, whenever matters relevant to the ESCB are on the agenda. Monetary policy strategy of the ESCB We are now approaching the start of stage three of EMU.