World Bank: Asia-Pacific economic growth seen slower at 5.8% in 2019 on trade tensions


In its latest forecast report on the Asia Pacific economies published on Thursday, the World Bank said that the economic growth in the region is forecast to slip to 5.8% in 2019 from 6.3% in 2018.

Key Highlights:

“The weakening global demand and heightened uncertainty that led to a decline in exports and investment growth, and points out that increasing trade tensions pose a long-term threat to regional growth.

While companies are searching for ways to avoid tariffs, it will be difficult for countries in developing East Asia and the Pacific to replace China’s role in global value chains in the short term due to inadequate infrastructure and small scales of production.

China’s growth is projected to slow to 6.1% this year, down from 6.6% in 2018.

The World Bank said that growth for East Asia and the Pacific is expected to slow to 5.7% in 2020 and 5.6% in 2021.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

GBP/USD jumps om Brexit, Bailey retreats on lockdown

GBP/USD  soared above 1.2850 after BOE’s Governor Bailey said mention to negative rates does not imply use. EU’s Barnier heading to London for informal trade talks. PM Johnson announces new restrictions, but no full lockdown

GBP/USD News

EUR/USD hits six-week lows below 1.1750 amid dollar demand

EUR/USD is trading at the weakest levels in six weeks below 1.1750 amid resurgent US dollar demand despite the upbeat market mood. Concerns over COVID-19 resurgence in Europe continue to weigh on the euro. 

EUR/USD News

Gold remains depressed near $1900 mark

Gold remained depressed for the second consecutive session on Tuesday. The downside remains limited ahead of the Fed Chair Powell’s testimony. The set-up still supports prospects for a slide back to August monthly lows.

Gold News

Crypto market shrinks while Bitcoin grows

Ethereum takes the brunt of the falls and gives market share to Bitcoin. Pause in the falls before looking for key supports at lower prices. Ripple plays dangerously and risks looking for support at the $0.20 level.

Read more

WTI: Trapped between key hourly averages ahead of API data

WTI (futures on NYMEX) consolidates the bounce above the $40 barrier, having regained the 21-hourly Simple Moving Averages (HMA), currently at $39.75.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures