* The Asian Development Bank now sees growth among emerging Asian economies of 4.3% in 2022 and 4.9% in 2023.
* The ADB expects the rest of developing Asia excluding China to grow by 5.3% in both 2022 and 2023, while it now expects China to grow by 3.3% in 2022, lower than revised forecasts released in July.
* This will be the first time in more than three decades that the rest of developing Asia will grow faster than China, the report said.
Asia’s developing economies may be showing signs of recovery, but the Asian Development Bank (ADB) cut its growth forecasts for them yet again — thanks to China’s prolonged zero-Covid policy.
But this will be the first time in more than three decades that the rest of developing Asia will grow faster than China, the Manila-based lender said in its latest outlook report released Wednesday.
“The last time was in 1990, when (China’s) growth slowed to 3.9% while GDP in the rest of the region expanded by 6.9%,” it said.
The ADB now expects developing Asia — excluding China — to grow by 5.3% in 2022, and China by 3.3% in the same year.
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WNU Editor: Covid lock-downs and the collapse of real-estate has harmed China's economy. But even with these setbacks, the projection is that China's economy will still grow 3.3% this year.
The Asian Development Bank's report is here .... Economic Growth in People’s Republic of China to Moderate to 3.3% in 2022 (Asian Development Bank).
China's Economic Growth To Fall Behind The Rest Of Asia For First Time Since 1990
China growth to fall behind rest of Asia for first time since 1990 -- Financial Times
China growth lags Asia-Pacific for first time in decades as World Bank cuts outlook -- The Guardian
World Bank cuts China growth forecast as COVID-19, real-estate crunch take toll -- FOX News
World Bank slashes economic outlook for Asia over China slowdown -- Al Jazeera
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