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Economy

ADB warns coronavirus threatens to chop 10% off global output

Bank says fiscal and monetary responses needed immediately to soften fallout

With exports and domestic consumption crashing, China, the world's second largest economy, could be on course for losses of up to $1.6 trillion this year, according to the ADB.    © Reuters

MANILA -- The COVID-19 pandemic threatens to lop off up to a tenth of the global economy, according to a study released Friday by the Asian Development Bank that suggests the disaster is likely to be even more devastating than previously expected.

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