Economics

In the News

Asia sees first regional economic recession in sixty years

Graham Watson

15th September 2020

The Asian Development Bank (ADB) is reporting that for the first time in 60 years, "developing Asia" - a bloc of 45 countries is going to experience a recession.

On the plus side, it's forecast to bounce back the next year. However, it's clear that there are adverse developmental consequences as a result with many countries suffering a severe contraction of national output and a steep decline in real per capita incomes as a consequence.

Here is a link to their September 2020 forecast

According to the ADB, three-fourths of the region's economies are expected to contract this year. The People's Republic of China (PRC) is an important exception although growth here has slowed too.

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to Tutor2U, reads voraciously and is interested in all aspects of Teaching and Learning.

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