$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16527',
'hit' => '745'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20221214125754_20181127012248_ADB.jpg'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
$user = $this->Session->read('Auth.User');
//find the group of logged user
$groupId = $user['Group']['id'];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16527',
'hit' => '745'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20221214125754_20181127012248_ADB.jpg'
$user = null
include - APP/View/Articles/view.ctp, line 115
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]
//find the group of logged user
$groupId = $user['Group']['id'];
$user_id=$user["id"];
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16527',
'hit' => '745'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20221214125754_20181127012248_ADB.jpg'
$user = null
$groupId = null
include - APP/View/Articles/view.ctp, line 116
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
$viewFile = '/var/www/html/newbusinessage.com/app/View/Articles/view.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16527',
'hit' => '745'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$image = 'https://old.newbusinessage.com/app/webroot/img/news/20221214125754_20181127012248_ADB.jpg'
$user = null
$groupId = null
$user_id = null
$date = '2022-12-14 12:57:18'
$dateFromDatabase = (int) 1671001938
$newDate = 'Dec 14, 2022'
$articleView = array(
'article_id' => '16527',
'hit' => '745'
)
$word_count = (int) 575
$time_to_read = (float) 2.88
$time_to_read_min = (float) 2
$time_to_read_second = (float) 53
include - APP/View/Articles/view.ctp, line 241
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.
Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.
"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.
Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.
"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.
With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.
This assumes a gradual easing of the country's zero-Covid policy.
According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.
On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.
The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.
FormHelper::create() - CORE/Cake/View/Helper/FormHelper.php, line 383
include - APP/View/Articles/view.ctp, line 273
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16527',
'hit' => '745'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16527',
'hit' => '745'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 60
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
file not found!
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16527',
'hit' => '745'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]
$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp'
$dataForView = array(
'article' => array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
[maximum depth reached]
)
),
'Slider' => array()
),
'current_user' => null,
'logged_in' => false
)
$article = array(
'Article' => array(
'id' => '16527',
'article_category_id' => '1',
'title' => 'ADB Cuts Asia Growth Projection on China Slowdown',
'sub_title' => '',
'summary' => 'December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects.',
'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">December 14: The Asian Development Bank (ADB) has trimmed its economic growth forecast for developing Asia on Wednesday, with China's pandemic lockdowns, slowing global demand and the Russian invasion of Ukraine seen as limiting the region's prospects. According to AFP, the Philippines-based lender cut its 2022 forecast to 4.2 percent, down marginally from a 4.3 percent projection made in September.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Prospects for 2023 also grew dimmer, ADB said in a report, which lowered the region's growth forecast to 4.6 percent from 4.9 percent.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Recovery in developing Asia is expected to continue but lose some steam," the ADB said, referring to the 46 developing member economies that as a whole grew 7.0 percent last year.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">Chinese lockdowns, the Ukraine war and slowing demand from developed economies for manufactured goods were the main causes, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">"Multiple risks abound as the three main headwinds could worsen, along with geopolitical risks and climate change," AFP said citing the report.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">With its tough Covid restrictions and unstable property market, China, Asia's largest economy, is now forecast to grow 3.0 percent this year and 4.3 percent in 2023, compared with 3.3 and 4.5 percent, respectively, in the bank's September forecasts.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">This assumes a gradual easing of the country's zero-Covid policy.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">According to AFP, Beijing announced last week a nationwide loosening of its coronavirus restrictions, allowing home quarantine for confirmed cases and ending large-scale lockdowns.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">On a positive note, developing Asia will grow faster this year and next than the rest of the world, while suffering the least from spiking inflation, the report added.</span></span></span></p>
<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Verdana","sans-serif"">The bank revised downward its inflation forecast for the region to 4.4 this year from 4.5 percent in its September report but upgraded it for 2023 to 4.2 percent from 4.0 percent.</span></span></span></p>
<p> </p>
',
'published' => true,
'created' => '2022-12-14',
'modified' => '2022-12-14',
'keywords' => '',
'description' => '',
'sortorder' => '16268',
'image' => '20221214125754_20181127012248_ADB.jpg',
'article_date' => '2022-12-14 12:57:18',
'homepage' => false,
'breaking_news' => false,
'main_news' => true,
'in_scroller' => null,
'user_id' => '34'
),
'ArticleCategory' => array(
'id' => '1',
'name' => 'NEWS',
'parentOf' => '0',
'published' => true,
'registered' => '2015-07-20 00:00:00',
'sortorder' => '158',
'del_flag' => '0',
'homepage' => true,
'display_in_menu' => true,
'user_id' => '1',
'created' => '0000-00-00 00:00:00',
'modified' => '2018-11-22 11:58:49'
),
'User' => array(
'password' => '*****',
'id' => '34',
'user_detail_id' => '1',
'group_id' => '1',
'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '16527',
'hit' => '745'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
