World Bank warns of dire economic outlook for Asia as China falters
TL;DR Summary
The World Bank has warned that Asia is facing one of the worst economic outlooks in half a century, as the region grapples with the impact of the COVID-19 pandemic. The World Bank predicts that Asia's economy will contract by 2.2% in 2020, marking the first regional recession in 60 years. The report highlights the severe disruptions to trade, tourism, and investment, as well as the challenges faced by countries with large informal sectors and limited social protection systems. The World Bank calls for policy measures to support the recovery and mitigate the long-term impact of the crisis.
- Asia faces one of worst economic outlooks in half a century, World Bank warns Financial Times
- World Bank downgrades developing East Asia growth forecast, weighed by a slowing China CNBC
- World Bank cuts China's 2024 growth amid property crisis Nikkei Asia
- World Bank Cuts Growth Estimates for East Asia as China Falters Bloomberg
- World Bank cuts growth forecasts for East Asia as China falters The Straits Times
- View Full Coverage on Google News
Reading Insights
Total Reads
0
Unique Readers
9
Time Saved
0 min
vs 1 min read
Condensed
16%
117 → 98 words
Want the full story? Read the original article
Read on Financial Times