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Growing debt is 'biggest risk' for East Asia: World Bank VP

Ferro discusses how inflation and Ukraine war could impact region's recovery

A construction site in Beijing. The World Bank sees a significant deceleration of regional growth prospects in Asia, driven by a decline in projections for growth for China.   © Reuters

TOKYO -- After years of economic expansion driven by its growing population, Asia has reached a crossroads due to the coronavirus pandemic, historic inflation and rapid interest rate hikes in the U.S.

"The biggest risk I see is that debt stocks increased significantly over the past few years," Manuela Ferro, the World Bank's vice president for East Asia and the Pacific, told Nikkei.

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