• Latest
  • Trending
Trade tensions darken growth outlook for developing Asia

Trade tensions darken growth outlook for developing Asia

September 25, 2019
Why Intellectuals do not like Capitalism?

Why Intellectuals do not like Capitalism?

December 4, 2019
Hong Kong & the Black Hand

Hong Kong & the Black Hand

December 4, 2019
Trump indicates to veto Hong Kong Democracy Act

Trump indicates to veto Hong Kong Democracy Act

November 23, 2019
Jakarta ex-governor Ahok tapped for job at state energy firm Pertamina

Jakarta ex-governor Ahok tapped for job at state energy firm Pertamina

November 23, 2019
5 snowscapes in Asia to spend your Christmas holiday

5 snowscapes in Asia to spend your Christmas holiday

November 23, 2019
Why some NGOs under fire amid Hong Kong crisis

Why some NGOs under fire amid Hong Kong crisis

November 23, 2019
Taliban replaces ISIS as world’s deadliest terror group

Taliban replaces ISIS as world’s deadliest terror group

November 23, 2019
79% of Indonesia’s priority targets linked to MoEF

79% of Indonesia’s priority targets linked to MoEF

November 23, 2019
slashed with razor

Slashed with razor, police sergeant got badly injured

November 22, 2019
U.S rush to pass Hong Kong bill brings concerns over city’s future

U.S rush to pass Hong Kong bill brings concerns over city’s future

November 21, 2019
Shinzo Abe breaks record as Japan’s longest-serving PM

Shinzo Abe breaks record as Japan’s longest-serving PM

November 21, 2019
$800 billion investment needed for Asia’s food security

$800 billion investment needed for Asia’s food security

November 21, 2019
citizendaily
  • Asia News
    • Northeast Asia
      • China
      • Japan
    • North Korea
    • Oceania
      • Australia
      • New Zealand
    • South Asia
      • Afghanistan
      • Bangladesh
      • India
      • Pakistan
    • Southeast Asia
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
  • World News
    • Africa
    • Europe
      • Germany
      • United Kingdom
    • Latin America
      • Cuba
      • Mexico
    • Middle East
      • Gulf States
      • Iran
      • Iraq
      • Saudi Arabia
      • Syria
    • North America
      • Canada
      • United States
    • Russian Federation
  • Economy
    • Brexit
    • Free Market
  • Politics
    • ASEAN
    • Diplomacy
    • ISIS
    • National Defence & Security
  • Editorial
  • Environment
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Lifestyle
    • Books & Literature
    • Entertainment
    • Food & Dining
    • Religion
    • Travel
    • Tech
  • Sports
No Result
View All Result
Friday, December 13, 2019
  • Asia News
    • Northeast Asia
      • China
      • Japan
    • North Korea
    • Oceania
      • Australia
      • New Zealand
    • South Asia
      • Afghanistan
      • Bangladesh
      • India
      • Pakistan
    • Southeast Asia
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
  • World News
    • Africa
    • Europe
      • Germany
      • United Kingdom
    • Latin America
      • Cuba
      • Mexico
    • Middle East
      • Gulf States
      • Iran
      • Iraq
      • Saudi Arabia
      • Syria
    • North America
      • Canada
      • United States
    • Russian Federation
  • Economy
    • Brexit
    • Free Market
  • Politics
    • ASEAN
    • Diplomacy
    • ISIS
    • National Defence & Security
  • Editorial
  • Environment
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Lifestyle
    • Books & Literature
    • Entertainment
    • Food & Dining
    • Religion
    • Travel
    • Tech
  • Sports
No Result
View All Result
citizendaily
No Result
View All Result

Trade tensions darken growth outlook for developing Asia

September 25, 2019
in Asia News, Business, Economy, Featured, Free Market, News
0
Home Asia News
Post Views: 14

 

Escalating trade tensions between the United States and China have darkened the outlook for developing Asia, with the region expected to grow slower than previously predicted this year and next, the Asian Development Bank said on Wednesday.

Developing Asia, a group of 45 countries across Asia and the Pacific, will likely grow 5.4 per cent this year and 5.5 per cent next year, down from the 5.7 per cent and 5.6 per cent growth forecast in July, the ADB said in an update to its Asian Development Outlook report. Growth in the region was 5.9 per cent in 2018.

“The People’s Republic of China–US trade conflict could well persist into 2020, while major global economies may struggle even more than we currently anticipate,” Yasuyuki Sawada, ADB’s chief economist, said in a statement.

RelatedPosts

Hidden dangers of Asia’s cashless society

U.S : China using intimidation to control Southeast Asian resources

New World Bank rankings points to increased competition in Asia

Why rich cities rebel

Growth in major Asian economies set to slow more than expected

The dispute between the world’s two largest economies has dragged on for well over a year, with both adding tariffs worth billions of dollars on each others goods. High level talks between the two are scheduled for early October.

China’s economy will probably grow 6.2 per cent this year, the ADB said, weaker than its 6.3 per cent projection in July. Growth in the Chinese mainland is projected to cool further to 6.0 per cent in 2020. China is targeting 6.0 per cent to 6.5 per cent growth in 2019. Along with weakening trade momentum, the Manila-based lender also sees declining investment as a major risk to the region’s growth prospects.

By sub-regions, South Asia will remain the fastest growing in Asia Pacific, even after the ADB trimmed its 2019 outlook to 6.2 per cent from 6.6 per cent as it also slashed its growth estimate for India to 6.5 per cent from 7.0 per cent. ADB maintained India’s 7.2 per cent growth projection for next year.

South-east Asia is also expected to end 2019 on a weaker note, with growth likely to slow to 4.5 per cent compared with a previous forecast of 4.8 per cent and from last year’s 5.1 per cent pace. Growth next year is seen picking up to 4.7 per cent, but still lower than the ADB’s 4.9 per cent estimate in July.

Developing Asia will also have to deal with slightly higher prices due to rising food costs, the ADB said. It raised its 2019 and 2020 inflation forecasts for the region to 2.7 per cent from 2.6 per cent earlier.

 

Source: BusinessTimes
Tags: Asia Economic GrowthAsia EconomyGlobal EconomyGlobal trade war
Previous Post

War on graft in mining, palm oil hit by new law weakening Indonesian enforcer

Next Post

Global protest trends for democracy

Related Posts

Why Intellectuals do not like Capitalism?
ASEAN

Why Intellectuals do not like Capitalism?

December 4, 2019
Hong Kong & the Black Hand

Hong Kong & the Black Hand

December 4, 2019
Trump indicates to veto Hong Kong Democracy Act
Asian politics

Trump indicates to veto Hong Kong Democracy Act

November 23, 2019
Jakarta ex-governor Ahok tapped for job at state energy firm Pertamina
Economy

Jakarta ex-governor Ahok tapped for job at state energy firm Pertamina

November 23, 2019
5 snowscapes in Asia to spend your Christmas holiday
Destination

5 snowscapes in Asia to spend your Christmas holiday

November 23, 2019
Why some NGOs under fire amid Hong Kong crisis
Asia News

Why some NGOs under fire amid Hong Kong crisis

November 23, 2019
Next Post
Global protest trends for democracy

Global protest trends for democracy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Translate

Subscription

Popular Post

Why Intellectuals do not like Capitalism?
ASEAN

Why Intellectuals do not like Capitalism?

December 4, 2019
0

London/Hong Kong (5/12).  Following the collapse of socialist systems around the world at the end of the 1980s, the superiority...

Read more
Bangladesh gunmen made no demands, Islamic State not involved

NGOs call for mass boycott of palm oil giant IOI

June 29, 2016
No peace for Greenpeace

No peace for Greenpeace

July 1, 2016
Bangladesh gunmen made no demands, Islamic State not involved

The Case Against Greenpeace

July 1, 2016
Bangladesh gunmen made no demands, Islamic State not involved

Malaysia: The Third Force & the Nika Affair

July 1, 2016
  • About Us
  • Creative Commons
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Contact Us

Topics

Follow Us

About Us

citizendaily.news is part of the citizen Daily Media Group LLC, which delivers daily news around the globe. ​

© 2012 The Citizen Daily

No Result
View All Result
  • Asia News
    • Northeast Asia
      • China
      • Japan
    • North Korea
    • Oceania
      • Australia
      • New Zealand
    • South Asia
      • Afghanistan
      • Bangladesh
      • India
      • Pakistan
    • Southeast Asia
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
  • World News
    • Africa
    • Europe
      • Germany
      • United Kingdom
    • Latin America
      • Cuba
      • Mexico
    • Middle East
      • Gulf States
      • Iran
      • Iraq
      • Saudi Arabia
      • Syria
    • North America
      • Canada
      • United States
    • Russian Federation
  • Economy
    • Brexit
    • Free Market
  • Politics
    • ASEAN
    • Diplomacy
    • ISIS
    • National Defence & Security
  • Editorial
  • Environment
    • Climate Change
    • Forests
    • Water & Oceans
    • Wildlife & Endangered Species
  • Lifestyle
    • Books & Literature
    • Entertainment
    • Food & Dining
    • Religion
    • Travel
    • Tech
  • Sports

© 2012 The Citizen Daily