ADB cuts 2022 growth outlook for China and India Asia Growth GDP China India
report, the Asian Development Bank said that they slashed the 2022 GDP growth outlook for developing Asia, in the face of China’s covid risks, the Russia-Ukraine war and worldwide economic slowdown.“Expect 2022 growth in developing Asia to slow to 4.2%, down slightly from its 4.3% forecast in September and marking the fifth time the outlook was downgraded.”
“Growth in China will likely be slower than previously thought with the world’s second-largest economy seen expanding 3.0% this year and 4.3% next year, weaker than the ADB’s earlier forecasts of 3.3% and 4.5%, respectively.”China plans over $143 billion package to boost domestic chips, compete with US – Reuters
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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