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Despite the gloomy global economy, World Bank (WB) says the Asia-Pacific economies are continuing to demonstrate resilience and flexibility. The World Bank’s latest ‘East Asia and Pacific Economic Update’, released today, predicts the region will grow 7.5 percent this year, lower than the 8.3 percent achieved last year, but set to recover to 7.9 percent next year. Developing East Asia, excluding China, is projected to grow 5.6 percent in 2012, up from 4.4 percent in 2011. The rebound in Thailand following floods in 2011, strong growth in the Philippines, and relatively mild slowdowns in Indonesia and Vietnam contributed to this performance. The report notes that there are considerable risks that could slow the region’s momentum, citing possible delays of reforms in the Eurozone, the “fiscal cliff” in the US, and a possible sharp decline in the growth of investments in China.