The growth outlooks of Asian economies remain weak for 2020, following a sudden deceleration in 2019 and the continuing U.S.-China trade war. The 2020 growth rate for the five major Association of Southeast Asian Nations countries was projected to inch up to 4.2% from the 2019 projection of 3.9%, but the figure stayed much lower than the levels before 2018. The Indian growth forecast for fiscal 2019/20 was projected at 5.0%, a sharp drop from the 6.8% recorded in the previous fiscal year.
Looking forward to the coming year, economists list U.S.-China tensions, the U.S. presidential election, the Chinese economic slowdown and geopolitical risks as factors affecting the global economy, a survey found.
