MACRO
MACRO

Asian Development Bank lowers forecast of developing Asia’s 2022 GDP growth, citing China’s zero-Covid policy

The Asian Development Bank lowered its forecast for GDP growth in developing Asia in 2022, saying that China’s zero-tolerance to Covid creates ripple effects on regional supply chains and economic development.

More than 20 provincial-level regions in China reported local Covid case in latest outbreaks

More than 20 provincial-level regions in China have reported locally transmitted COVID-19 cases in the latest round of outbreaks, and unlike the previous round, cases are found in some inland and small cities, posing challenges to the country’s epidemic control efforts.