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Economy

China market woes no threat to Asia's growth, says ADB chief Nakao

Takehiko Nakao, president of the Asian Development Bank, gives a speech at a hotel in Kanagawa Prefecture on Sept. 2.

TOKYO -- Asia's economies will continue to grow steadily in the future, Asian Development Bank President Takehiko Nakao said Wednesday, arguing they are strong enough to weather a slowdown in China.

     Speaking at a hotel in Kanagawa Prefecture, southwest of Tokyo, Nakao said that although turbulence in China has created volatility in global financial markets for the past few weeks, he is "not pessimistic" about Asia, including China. "The turmoil will not be a crucial turning point for Asia's future growth," he said.

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