- September 22, 2022
- Posted by: Stratford Team
- Category: Economy
Illustration: Chen Xia/Global Times
Excluding China, the rest of developing Asia is forecast to see 5.3 percent economic growth in 2022 – the first time in more than three decades that the rest of developing Asia will grow faster than China, the Asian Development Bank (ADB) said in its latest outlook report, which was released on Wednesday, CNBC reported.
The world economy, still reeling from the pandemic, inflation, food insecurity, and a looming debt crisis, is facing an increasingly uncertain outlook. So, it’s tough to make predictions now, especially about emerging market economies in Asia that is relatively fragile in the face of external uncertainties, as most of them are export-oriented economies.
Is ADB’s prediction accurate? It is difficult to know the answer, although some emerging Asian market economies did show some resilience and relatively fast growth, a phenomenon which reflects the inherent dynamism in Asia.
Vietnam’s GDP grew 7.72…
