The coronavirus outbreak will have a profound impact on emerging Asian economies and may push some countries in the region into a recession, the World Bank warns. In a bleak report released Monday, the Washington-based institution said the pandemic will inflict significant economic pain on all countries, and could throw millions in the Asia Pacific region into poverty. “Countries in East Asia and the Pacific that were already coping with international trade tensions and the repercussions of the spread of COVID-19 in China are now faced with a global shock,” said Victoria Kwakwa, the World Bank’s Vice President for East Asia and the Pacific. Under the worst case scenario, which assumes a prolonged pandemic with more severe effects, Asian economies would contract 0.5%, the report estimates.
World Bank Says Coronavirus May Push Some Asian Economies Into Recession
Amy Gunia, Time: Business
Tue, 03/31/2020 - 3:12am
Topics: washington-based ldquo;countries victoria kwakwa world bank s vice president households thailand cambodia vietnam in china gdp silent epidemic experts fear coronavirus is spreading undetected southeast asia ldquo;in aaditya mattoo chief economist international monetary fund covid-19 asia asian world bank to pacific east asia china world bank read push recession poverty region report growth economy pandemic people global million risk released year forecasts pain effects conditions severe trade sick healthcare scenario falling
BING NEWS:
- China is a tale of at least two economies
An optimist will look at China’s latest GDP figures released on Wednesday and argue they signal that the best of times is returning. The country’s economy grew 5.3% in the first quarter year-on-year, ...
04/15/2024 - 11:00 pm | View Link - The World Bank in Argentina
With a Gross Domestic Product (GDP) of approximately US$640 billion, Argentina is one of the largest economies in Latin America ... However, it remains one of the highest in the region. The World Bank ...
09/20/2023 - 10:18 am | View Link - World Bank Sanctions Board
The World Bank Sanctions Board, composed of seven (7) external judges, is an independent administrative tribunal that serves as the final decision-maker in all contested cases of sanctionable ...
05/10/2019 - 1:52 pm | View Link - More
Welcome to Wopular
Wopular is an
online newspaper rack,
giving you a summary view of the top headlines from the top news sites.
Senh Duong (Founder)
Wopular,
MWB,
RottenTomatoes
MoviesWithButter : Our Sister Site
- "Expendables 4" Starts Shooting This Fall, Says Randy Couture at the Arnold Sports Festival more
- “Expendables 4” Gets Funding Interest from “Ip Man 3” Financier more
- "Ip Man 3" Distributor Suspected of Box Office Fraud, Parent Company Loses $200M in Market Cap more
- Yen Targets "Ip Man 4" for 2018 Release; Discusses Film with Director, Producer more
- "Ip Man 3" Shatters Expectations with $72M Opening [China Box Office] more