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Survey Says Domestic Consumption Must Drive Growth, Investment.
Jul. 27--In the face of the global economic slowdown, domestic consumption must drive growth and investment, according to the latest MasterCard International MasterIndex survey.
Heavy dependence on the US economy had led to another cyclical slowdown, according to Yuwa Hedrick-Wong, economic adviser to MasterCard International.
He said the region's economies needed to follow the example of China and focus more on stimulating domestic consumption.
In the biannual survey of consumer confidence in 13 countries, China scored its highest ever mark of 79.1 out of a possible 100 points, bucking the trend of mixed sentiment elsewhere.
Thailand's index rose to 62.4 from 59.7, ...
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