Developing Asia to Grow Faster in 2023 on China Reopening, Report Says

(Nikkei Asia) — Growth in emerging Asian economies is poised to quicken this year, buoyed by China’s reopening, the Asian Development Bank said in a report, while the war in Ukraine and banking turmoil in the U.S. and Europe present ongoing risks.

Developing Asia’s gross domestic product is projected to grow 4.8% both this year and next, up from last year’s 4.2%, according to the bank’s “Asian Development Outlook,” released on Tuesday.