Economic growth in emerging Asia is unlikely to be affected by the market turmoil following the US sovereign debt downgrade, the Asian Development Bank said.
In its annual Asia Capital Markets Monitor report, published on Tuesday but drawn up before the US downgrade, the ADB forecast that growth in Asia excluding Japan would slip from 9.2 per cent in 2010 to 7.9 per cent this year and 7.8 per cent in 2012
The Manila-based bank said regional growth would be constrained by anaemic economic activity in the advanced economies and the impact of tighter monetary policy in Asia.
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