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