Tuesday, September 24, 2019

ADB chief sees Asian economy growth as 'solid' despite trade war

  • >> Reuters
    Published: 2019-04-15 13:30:26 BdST

FILE PHOTO: President of the Asian Development Bank Takehiko Nakao arrives for the sixth Mekong Greater Sub-Region Summit (GMS-6) in the National Convention Centre (NCC) in Hanoi, Vietnam 31 Mar 2018. REUTERS

The head of the Asian Development Bank (ADB) said on Monday that regional economies in Asia were sustaining solid growth led by domestic demand and the services sector despite some negative effects of the Sino-US trade war.

Trade friction between the world’s two largest economies is impeding growth in China, ADB President Takehiko Nakao told reporters in a group interview.

“It’s natural for the Chinese economy to slow,” said Nakao, a former Japanese vice finance minister for international affairs.