SINGAPORE (Reuters) – While many European countries struggle to pay for social safety nets, some in Asia are finding they can no longer afford to do without them.

The shift is as much about politics as economics. Asia’s explosive growth over the past decade has created thousands of new millionaires and widened the income gap. Rising inequality is becoming a bigger issue at the polls.

SINGAPORE (Reuters) – While many European countries struggle to pay for social safety nets, some in Asia are finding they can no longer afford to do without them.

The shift is as much about politics as economics. Asia’s explosive growth over the past decade has created thousands of new millionaires and widened the income gap. Rising inequality is becoming a bigger issue at the polls.

By Emily Kaiser

(Reuters) – Emerging markets talked up their desire to break Washington’s hold on the top World Bank job on Thursday after Robert Zoellick announced he would step down, yet they showed little inclination to band together to force change.

Much like in 2011, when Dominique Strauss-Kahn resigned as managing director of the International Monetary Fund, officials from countries such as Brazil and the Philippines said it was time to break the decades-old pattern of putting an American in charge of the World Bank and a European atop the IMF.

SINGAPORE (Reuters) – Asia’s central bankers have yet another reason to hesitate now that the U.S. Federal Reserve looks likely to keep interest rates low for longer.

Indonesia, Thailand, Australia and the Philippines have all cut interest rates at least once in the past three months to try to shore up economic growth, and many economists predict more easing to come this year from India and South Korea.

SINGAPORE (Reuters) – Asia’s central bankers have yet another reason to hesitate now that the U.S. Federal Reserve looks likely to keep interest rates low for longer.

Indonesia, Thailand, Australia and the Philippines have all cut interest rates at least once in the past three months to try to shore up economic growth, and many economists predict more easing to come this year from India and South Korea.

SINGAPORE (Reuters) – Asia’s economic growth may be settling into a middling pace that is too slow to provide significant global support but too fast to warrant aggressive policy easing.

Most of the region’s emerging economies have space to cut interest rates or boost government spending to counter the impact from the global slowdown.

SINGAPORE (Reuters) – Asia’s economic growth may be settling into a middling pace that is too slow to provide significant global support but too fast to warrant aggressive policy easing.

Most of the region’s emerging economies have space to cut interest rates or boost government spending to counter the impact from the global slowdown.

By Emily Kaiser, Asia Economics Correspondent

(Reuters) – China’s cooling property market could shave more than 2 percentage points off 2012 growth, forcing Beijing to decide just how badly it wants to keep the economy expanding at more than 8 percent a year.

Even if the world’s second-biggest economy avoids a housing crash, slower property investment is almost certain to constrain growth. That assumption was built into economists’ predictions that the economy will slow in 2012, but data released this week suggests housing may take an even bigger chunk out of growth.

By Emily Kaiser, Asia Economics Correspondent

(Reuters) – China’s cooling property market could shave more than 2 percentage points off 2012 growth, forcing Beijing to decide just how badly it wants to keep the economy expanding at more than 8 percent a year.

Even if the world’s second-biggest economy avoids a housing crash, slower property investment is almost certain to constrain growth. That assumption was built into economists’ predictions that the economy will slow in 2012, but data released this week suggests housing may take an even bigger chunk out of growth.

By Emily Kaiser, Asia Economics Correspondent

(Reuters) – China’s cooling property market could shave more than 2 percentage points off 2012 growth, forcing Beijing to decide just how badly it wants to keep the economy expanding at more than 8 percent a year.

Even if the world’s second-biggest economy avoids a housing crash, slower property investment is almost certain to constrain growth. That assumption was built into economists’ predictions that the economy will slow in 2012, but data released this week suggests housing may take an even bigger chunk out of growth.