Despite rising headwinds and concerns about a slowdown in the global economy, Asian developing economies are still set to grow 'in a very steady way,' the president of the Asian Development Bank said on Thursday.
Despite rising headwinds and concerns about a slowdown in the global economy, Asia's developing economies are still set to grow "in a very steady way," the president of the Asian Development Bank said Thursday.
Most of the momentum for the region's growth comes from higher consumption and investment levels, Takehiko Nakao said. Speaking to CNBC at the ADB's annual meeting in Fiji, Takehiko Nakao said discussions about a global economic slowdown "may be true especially for advanced economies — but, as far as Asia is concerned, it is still growing very steadily.", developing Asia — which comprises 45 nations ranging from China to Tuvalu — is projected to grow by 5.7 percent this year.
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