MANILA -- The developing economies in Asia are expected to shrink by 0.7% this year due to the COVID-19 pandemic, marking the first regional recession in nearly six decades, the Asian Development Bank said Tuesday.
Nobel laureate Stiglitz signals the end of region's labor intensive growth model
Cranes are seen at Tanjung Priok port amid the coronavirus outbreak in Jakarta, Indonesia, Aug. 3. © Reuters
MANILA -- The developing economies in Asia are expected to shrink by 0.7% this year due to the COVID-19 pandemic, marking the first regional recession in nearly six decades, the Asian Development Bank said Tuesday.