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

Trade tensions darken growth outlook for developing Asia

September 25, 2019
U.S. attack on the Capitol: The “Bud Light Putsch”, a watershed moment for America?

U.S. attack on the Capitol: The “Bud Light Putsch”, a watershed moment for America?

January 18, 2021
How Israel’s Likud Party played the long game toward annexation of the West Bank

How Israel’s Likud Party played the long game toward annexation of the West Bank

January 11, 2021
How the Capitol riot exposed our national security blind spots

How the Capitol riot exposed our national security blind spots

January 11, 2021
‘Good riddance,’ says China as Germany leaves UN Security Council

‘Good riddance,’ says China as Germany leaves UN Security Council

December 23, 2020
Indonesian police needs reforms, urgently & not just in Papua

Indonesian police needs reforms, urgently & not just in Papua

December 13, 2020
Chinese honey trap operation?

Chinese honey trap operation?

December 11, 2020
Bali’s villa dream or just another nightmare?

Bali’s villa dream or just another nightmare?

December 5, 2020
When the going gets tough, the tough gets Ramen!

When the going gets tough, the tough gets Ramen!

November 28, 2020
Giuliani attends Pennsylvania GOP meeting on alleged election issues

Giuliani attends Pennsylvania GOP meeting on alleged election issues

November 28, 2020
Biden: ‘They are back’ !

Biden: ‘They are back’ !

November 28, 2020
Zac Efron splits from Vanessa Valladares

Zac Efron splits from Vanessa Valladares

November 28, 2020
Trump campaign cuts Sidney Powell from legal team

Trump campaign cuts Sidney Powell from legal team

November 23, 2020
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
Wednesday, January 20, 2021
  • 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: 21

 

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

Asia Leading Economic Recovery as Western World Still Hunkering Down

India to be third-largest economy in world by 2050

Three Nations That Tried Socialism and Rejected It

How China plans to shake up global economy

World Economic Forum Postpones Davos Summit until Summer 2021

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

U.S. attack on the Capitol: The “Bud Light Putsch”, a watershed moment for America?
Asia News

U.S. attack on the Capitol: The “Bud Light Putsch”, a watershed moment for America?

January 18, 2021
How Israel’s Likud Party played the long game toward annexation of the West Bank
Commentary

How Israel’s Likud Party played the long game toward annexation of the West Bank

January 11, 2021
How the Capitol riot exposed our national security blind spots
Bilateral

How the Capitol riot exposed our national security blind spots

January 11, 2021
‘Good riddance,’ says China as Germany leaves UN Security Council
Asia News

‘Good riddance,’ says China as Germany leaves UN Security Council

December 23, 2020
Indonesian police needs reforms, urgently & not just in Papua
ASEAN

Indonesian police needs reforms, urgently & not just in Papua

December 13, 2020
Chinese honey trap operation?
Asia News

Chinese honey trap operation?

December 11, 2020
Next Post
Global protest trends for democracy

Global protest trends for democracy

Translate

Subscription

Popular Post

U.S. attack on the Capitol: The “Bud Light Putsch”, a watershed moment for America?
Asia News

U.S. attack on the Capitol: The “Bud Light Putsch”, a watershed moment for America?

January 18, 2021
0

  The events in the U.S. capitol, nicknamed by the far-left groups as the “Bud Light putsch” of the “Fascist...

Read more

NGOs call for mass boycott of palm oil giant IOI

June 29, 2016
No peace for Greenpeace

No peace for Greenpeace

July 1, 2016

The Case Against Greenpeace

July 1, 2016
Children in ISIS Nusantara Media Outreach

Children in ISIS Nusantara Media Outreach

July 2, 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