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No long-term stagnation for Asia, ADB president says

Solid consumption and investment seen propelling emerging economies

Asian Development Bank President Takehiko Nakao speaks during a conference in Tokyo on Dec. 1.

TOKYO -- Asia is enjoying solid economic growth and is not at risk of long-term stagnation, Takehiko Nakao, president of the Asian Development Bank, said Thursday, citing rosy forecasts for India and other emerging economies.

"Asian growth has been solid and I have a very positive view on the future development of Asia," Nakao said in a speech at the Asian Development Bank Institute's annual conference in Tokyo.

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