Caixin
Sep 26, 2018 08:36 PM
ECONOMY

Asian Development Bank Nudges Down 2019 Growth Forecast for China, Developing Asia

Economic growth remains robust across Asia overall thanks to strong domestic demand and buoyant oil and gas prices, but “escalating trade tensions will test the region’s resilience,” the Asian Development Bank said. Photo: IC
Economic growth remains robust across Asia overall thanks to strong domestic demand and buoyant oil and gas prices, but “escalating trade tensions will test the region’s resilience,” the Asian Development Bank said. Photo: IC

The Asian Development Bank (ADB) has lowered its 2019 growth forecast for both China and developing Asian nations by 0.1 percentage points to reflect the greater risks to global trade and financial markets posed by China’s ongoing trade tensions with the U.S.

Growth remains robust across Asia overall thanks to strong domestic demand and buoyant oil and gas prices, but “escalating trade tensions will test the region’s resilience, underscoring the importance of efforts to bolster trade ties among its countries,” the ADB said.

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