Some of Asia's biggest economies are likely to narrowly avoid recession this year and are poised to bounce back strongly in 2021 if the ...
The IMF says Asia's biggest economies will narrowly avoid recession this year, but should boubnce back strongly in 2021 AFP/STRHONG KONG: Some of Asia's biggest economies are likely to narrowly avoid recession this year and are poised to bounce back strongly in 2021 if the coronavirus is contained, the IMF forecast Tuesday , with China leading the recovery.
"Emerging Asia is projected to be the only region with a positive growth rate in 2020 , albeit more than 5 percentage points below its average in the previous decade," the IMF said. However, more advanced economies in the region - Japan, South Korea, Australia, Singapore and Hong Kong - will dip into recession, according to the forecast.
But economists have warned that China, where the virus first emerged late last year, will depend on recovery in other parts of the world.
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