IMF official: Asia powerhouse of global economy

WASHINGTON — Asia, which is contributing 60 percent to global growth, is clearly the powerhouse of the global economy, said Krishna Srinivasan, director of the International Monetary Fund's Asia and Pacific Department.

"This is the most dynamic region of the world. It has a huge amount of labor force. A lot of that is also skilled labor force. It's a region that is highly integrated into global supply chains. And lastly, it's a region which has seen a huge increase in productivity growth," Srinivasan told Xinhua in an interview recently.

"For these three reasons, this region is contributing a lot more than other regions," he said.