Developing Asia, including China and India Growth Cut by Asian Development Bank

The Asian Development Bank (ADB) on Wednesday cuts its growth forecast for developing Asia, reflecting “worsened” prospects because of the war in Ukraine, faster monetary policy tightening in advanced economies and China’s Covid-19 lockdowns. The ADB sees a weaker outlook in China, India and the surrounding region in Asia in its Asian Development Outlook supplement. “Developing Asia continues to recover, but risks loom large,” said ADB Chief Economist Albert Park. “A significant downturn in the world economy would severely undermine … Continue reading “Developing Asia, including China and India Growth Cut by Asian Development Bank”