Strong Chinese, Indian growth easing: OECD

High growth in emerging Asian giants China and India is set to slow slightly, with Korea to expand at a brisk pace and Japan's economy to crawl, Organisation for Economic Cooperation and Development (OECD) said on Thursday.

Despite the removal of stimulus measures the Chinese economy is forecast to show bouyant growth of 10.7 per cent this year before slowing to 9.7 per cent in the next two years.

Meanwhile, the OECD said in its latest Economic Outlook report that India's economy is showing signs of entering a phase of sustained high growth.

It however said global remains on track for 4.6 per cent growth this year, dipping to 4.2 per cent in 2011.

Many countries must work harder and faster to cut budget deficits next year and some may have room to offest this for a while with even cheaper money.

But exceptionally low interest rates cannot last, the Organisation for Economic Cooperation and Development warned.