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Asian Development Bank upgrades growth forecasts Developing Asia for 2023, raising projection from 4.7% to 4.9%. This upgrade is primarily attributed to stronger than expected growth in two of the region's largest economies, China and India. On the other hand, growth forecast for 2024 remains unchanged at 4.8%.
Says political stability following general elections later this year will boost business confidence
Developing Asia faces “intensified” risks from China’s troubled property sector and high interest rates around the world, the Asian Development Bank said Wednesday, as it trimmed its regional growth expectations. Gross domestic product is forecast to
Developing Asia as a region has experienced rapid growth over the past three decades. What have these episodes of sustained growth meant for income inequality? Has the region had “inclusive growth,” meaning growth which saw incomes rise without inequality increasing, or has inequality gotten worse? To address this query, we delve into the determinants of inclusive growth across 16 developing Asian countries*, comparing them with other developing and developed nations.
Michael G. Plummer is director of the School of Advanced International Studies (SAIS), Europe and Eni Professor of International Economics at The Johns Hopkins University.