Foreign

Trade tensions tie down Asian Pacific economies-World Bank

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It added that the economies is expected to slow from 5.7 and 5.6 per cent in 2020 and 2021 respectively, reflecting a broad-based decline in export growth and manufacturing activities.

Andrew Mason, World Bank Lead Economist for East Asia and the Pacific said the region’s growth prospects face an intensified set of risks. Mason said the risks included trade tensions, faster-than-expected slowdowns in major economies such as the Eurozone and the U.S., as well as uncertainties around the Brexit.

The World Bank also warned that the short term gain of some countries in the region would not be unsustainable in the long run. (Xinhua/NAN)

HLM/YEE

Edited by Hadiza Mohammed

https://nnn.ng/trade-tensions-tie-down/

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