The Asian Development Outlook 2001 Update examines the economic effects of the terror attacks on the United States and its aftermath on developing Asia and the Pacific economies. The 2001 Update: appraises the global economic slowdown, particularly the ICT cyclical downturn in the US that has broadened to other sectors, and describes how it has deepened into a general demand-driven cyclical slowdown, and affected Europe and Japan. carries an extensive analysis of recent economic developments in five Asia and Pacific subregions and 14 developing member countries. highlights the region's macroeconomic fundamentals relative to other regions in the world, which should ride out the global economic slowdown.