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advanced industrial countries Angeles World Affairs APRIL 25 Asian Pacific average interest rate Bank's benefits of international borrowing California capital China achieved Chinese authorities cofinancing commitment to development concessional assistance cost countries need countries of East countries of Pacific despite East Asia economic growth economic performance economic policy economic problems efficiency and productivity encourages sound expanded export revenues Finance funding global economy global recession high interest rates IDA assistance importance increased Indonesia international debt international interdependence Korea lending low-income developing countries Malaysia manufactured exports market developing countries market-oriented mobility among countries national income nearly a third Newly industrializing countries outward orientation Pacific Asia People's Republic Philippines Price distortions rapid growth real interest rates recent reduce tariffs reducing poverty Reducing real interest reform region Republic of China rest of East sector strong structural adjustment loans Thailand trade and interest U.S. dollars World Affairs Council World Bank worldwide economic