Report: Asian economies lag as trade tensions drag on growth

April 02, 2019 - 10:10 pm

BANGKOK (AP) — A report by the Asian Development Bank says trade tensions between China and the United States are putting an extra drag on economies in the region, with growth likely to continue to slow in the coming two years.

The Manila, Philippines-based bank's latest economic outlook forecasts that growth in developing Asia will slow slightly to 5.7% this year and 5.6% in 2020. In 2017 growth was at 6.2%.

The annual update comes as the U.S. and China prepare for another round of talks, this time in Washington, aimed at resolving their dispute over China's acquisition of technology and industrial policies.

The ADB, a regional lender, points to the trade conflict as the main risk to growth, since it has ripple effects on investment and manufacturing.

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