ADB: Rate hikes, Ukraine war, China woes dim Asia growth outlook – by anilpanchal7 Asia RiskAppetite Banks China Growth
l bank monetary tightening, the fallout from the war in Ukraine and COVID-19 lockdowns in China, reported Reuters.The ADB now expects the area's combined economy, which includes China and India, to grow 4.3% this year, after previously trimming the forecast to 4.6% in July from 5.2% in April.
"Since the April Asian Development Outlook, various headwinds have strengthened," said ADB Chief Economist Albert Park. A significant global economic downturn would severely undermine demand for the region's exports, he warned. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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