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US-China trade war will hit ASEAN economy harder

JCER quarterly survey records fourth straight downgrade as uncertainty remains

A port in Qingdao, Shandong province, China. Although the U.S. and China have agreed to reopen trade talks, the future direction of their trade relationship remains unclear.   © Reuters

The outlook for major Asian economies has once again been revised downward, due to the negative influence of the U.S.-China trade war, which has caused exports to fall across the region. The 2019 growth forecast for the five Association of Southeast Asian Nations members was 4.3%, marking the fourth consecutive downward revision since a survey in September 2018.

The Indian economy is still likely to maintain growth of nearly 7%, but that projection is lower than it was. Recognizing the U.S.-China tensions as the biggest risk for their economies, Asian economists believe that the uncertainty will continue, a survey found.

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