For the first time in decades, growth in the People’s Republic of China will be slower than the rest of developing Asia. Abdul Abiad, director of the Macroeconomic Research Division of ADB, discusses how this and other headwinds are impact the region’s economic recovery from COVID-19.
Chapters:
01:05 Developing Asia to grow 4.3% in 2022; 4.9% in 2023
01:21 People’s Republic of China will be growing slower than the rest of developing Asia
01:46 Russian invasion of Ukraine and aggressive monetary tightening also impact developing Asia’s economic recovery
02:32 Lockdowns, property sector, aging population and old growth model are challenges to PRC’s economy
04:11 Inflation to hit 4.5% in developing Asia
06:03 Growth forecast for developing Asia is still good compared to the rest of the world
07:07 Central banks need to closely monitor inflation
07:27 Policymakers should ensure that economic recovery does not benefit only a few
08:09 Education crisis and climate change should also be addressed by policymakers
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