ADB trims Asian outlook, citing trade wars, global slowdown

26-Sep-2019 Intellasia | AP | 6:02 AM Print This Post

The Asian Development Bank says that escalating trade tensions will sap Asian economies of some of their potential in this year and the next.

The regional lender says in a report released Wednesday that it expects regional growth of 5.4 percent this year and 5.5 percent in the coming year, slightly below its earlier forecasts.

The report cites a risk of a further deterioration in trade friction, such as the tariff war between China and the US and a festering dispute between Japan and South Korea.

It said uncertainty over such rifts could also further destabilise financial markets, compounding the problems.

In broader terms, the report urges regional governments to do a better job of providing affordable housing and public transport to help support growth and improvements in urban living standards.


Category: FinanceAsia

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