The Asian Development Bank (ADB) has maintained its growth forecast for the Chinese mainland unchanged, while adjusting its growth expectations for other developing economies in the Asia-Pacific region.
In the latest economic outlook report released on Wednesday, the ADB kept its 2024 growth forecast for the Chinese mainland at 4.8 percent and projected 4.5 percent for 2025, consistent with its estimates from September.
However, the ADB revised its growth expectations for developing economies in the Asia-Pacific region, lowering the 2024 forecast from 5.0 percent to 4.9 percent and the 2025 forecast from 4.9 percent to 4.8 percent.
Despite maintaining solid overall economic momentum in the region, the ADB warned that potential policy shifts by US President-elect Donald Trump could have significant impacts.
The report highlighted that changes in trade, fiscal, and immigration policies under Trump's administration could slow economic growth in the Asia-Pacific region and lead to higher inflation rates.
Reference(s):
cgtn.com
