IMF warns of risks to Asia's economy as trade tensions, soft China growth bite

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TOKYO: Risks to Asia's economy have increased with escalating trade tensions, China's property sector woes and the potential for further market turbulence clouding the outlook, the International Monetary Fund (IMF) said on Friday (Nov 1).

"An acute risk is the escalation in tit-for-tat retaliatory tariffs between major trading partners," which would aggravate trade fragmentation and hurt growth in the region, it said.

A view of unfinished residential buildings developed by China Evergrande Group in the outskirts of Shijiazhuang, Hebei province, China, on Feb 1, 2024.

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Category: EconomyBusiness

Markets: SingaporeChinaJapan

Topics: Market Asia 2024 Economy Monetary China Tensions Steps Policy Cent Trade

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 10:01:23 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 459 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23359619

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