Economics

ADB Cuts Asia GDP Forecast as China Sticks to Covid Zero

Developing Asia expected to grow 4.6% in 2022, down from 5.2%
China lockdowns have lingering effects on supply chains: ADB

WATCH: The Asian Development Bank has cut its forecast for growth in developing Asia this year. Source: Bloomberg

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By Jill Disis and Siegfrid Alegado

July 21, 2022 at 12:00 AM UTC

Updated on

July 21, 2022 at 1:58 AM UTC

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The Asian Development Bank cut its forecast for gross domestic product growth in developing Asia this year as China’s Covid Zero approach to containing the virus creates ripple effects on regional supply chains and economic development.