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Asia's 'smartphone economy' boosts 2017 growth forecasts

Future looks bright, but risk of war, rising interest rates cloud prospects

TOKYO -- The Japan Center for Economic Research announced on Aug. 28 its "Sixth Asia Economic Short-Term Forecast" highlighting China and four core ASEAN countries: Indonesia, Thailand, Malaysia and the Philippines.

With economic growth in the first half of 2017 exceeding the previous forecast in February, the outlook for gross domestic product for all of 2017 for China was revised up to 6.7%, and 5.0% for the four ASEAN countries.

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