World Bank Slashes Economic Outlook For Asia Over China Slowdown
Sep 28, 2022 ·
1m 6s
The World Bank has slashed its economic outlook for the Asia-Pacific, pointing to China’s ultra-strict zero-COVID policy as a drag on regional growth. The region’s economies are expected to grow...
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The World Bank has slashed its economic outlook for the Asia-Pacific, pointing to China’s ultra-strict zero-COVID policy as a drag on regional growth.
The region’s economies are expected to grow 3.2 per cent in 2022, down from a 5 per cent forecast in April, as China’s lockdowns continue to disrupt factories and dampen spending, the Washington-based financial institution said on Tuesday.
China, the world’s second-largest economy, is projected to grow 2.8 per cent this year, according to the bank, and 4.5 per cent in 2023.
show less
The region’s economies are expected to grow 3.2 per cent in 2022, down from a 5 per cent forecast in April, as China’s lockdowns continue to disrupt factories and dampen spending, the Washington-based financial institution said on Tuesday.
China, the world’s second-largest economy, is projected to grow 2.8 per cent this year, according to the bank, and 4.5 per cent in 2023.
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