World Bank trims East Asia, Pacific 2021 GDP forecast excluding China

Early Thursday, Reuters conveyed World Bank economic forecasts, suggesting a downbeat scenario for the Asia-Pacific region ex-China.

“The East Asia and Pacific region, excluding China, is expected to grow 4% this year, World Bank Chief David Malpass said,” per the news. The previous GDP forecast for the region was 4.4%, published in March.

World Bank’s Malpass also said, “Including China, the World Bank expects the region to grow 7.7% this year, above a 7.4% projection made in March.”

FX implications

The news helped markets to trim the early Asian pessimism. However, the coronavirus (COVID-19) woes keep risk barometers heavy.