South-east Asian countries that failed to administer Covid-19 vaccines fast enough and are suffering outbreaks of the disease are causing a growing regional economic divergence, the Asian Development Bank said on Wednesday.
The ADB cut its 2021 growth forecasts for leading economies including Thailand, Indonesia, the Philippines and Vietnam even as it raised its forecasts for China, Taiwan and South Korea.
“Regional growth paths are diverging,” the Japanese-backed multilateral bank said as it published a six-monthly update to its Asian Development Outlook for 2021.
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