Asian lender forecasts strong rebound for region in 2021

The Asian Development Bank forecasts that developing Asian economies will grow at a solid 7.3% pace this year after contracting slightly in 2020 due to the pandemic

NOT YET -- Developing Asian economies will grow at a solid 7.3% pace this year after contracting slightly in 2020 due to the pandemic, the Asian Development Bank says in its latest regional outlook. But the regional lender said that forecast is in doubt as outbreaks of coronavirus flare in several countries, including Thailand, India and the Philippines. Those setbacks threaten just as growth has been gaining momentum, said the ADB's chief economist, Yasuyuki Sawada. “Economies in the region are on diverging paths," he said. “Their trajectories are shaped by the extent of domestic outbreaks, the pace of their vaccine rollouts, and how much they are benefiting from the global recovery.”