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Interview

World Bank warns of 'third shock' after coronavirus and trade war

Developing Asia urged to address expected poverty surge, financial distress

A child wears a mask in Thailand slum. The World Bank's forecast of a "third shock" could devastate economic growth and increase poverty across developing Asia. (Photo by Akira Kodaka)

BANGKOK -- The author of a new World Bank report warned on Tuesday that developing Asia faces the prospect of a "third shock" to follow the trade war and new coronavirus outbreak.

The relentless spread of COVID-19 could devastate economic growth and increase poverty across the region for the first time in a generation, the bank said in a new report on the region's response to the pandemic.

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