The Asian Development Bank has warned that growth in developing Asia could slow further in the next two years, highlighting risks from China-US trade tensions and a slowdown in advanced economies.
In its latest Asian Development Outlook report, the bank trimmed its growth forecast to 5.7 percent in 2019, which would be the slowest pace since 2001, from its December prediction of 5.8 per cent growth. In 2020, growth is set to slow to 5.6 per cent.
The report covers ‘developing Asia’, a group of 45 countries that excludes industrialised economies such as Hong Kong, South Korea and Singapore.
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