HONG KONG (AP) — The Asian Development Bank says Asia’s developing economies are grown at a faster pace that is underpinned by China’s rebound and strength in countries such as Indonesia.
The regional lender though warns that political disputes pose an increased threat to growth.
The Manila-based lender released its yearly outlook Tuesday. The report says some big dangers to regional growth have faded, such as the possibility of the euro common currency breaking up or a “U.S. fiscal shock” stemming from brinkmanship over the debt ceiling in the world’s biggest economy.
But it says political disputes call into question the ability of authorities to compromise. Over the past year, several Asia nations have been roiled by territorial disputes, including a row between China and Japan over disputed islands in the East China Sea.
