A report from the World Bank on Monday warned that the war in Ukraine threatens to slow economies in Asia in the months ahead.
The World Bank anticipated that China, the region's largest economy, will expand at a 5% annual pace, much slower than the 8.1% growth of 2021.
FILE - A man wearing a face mask to help curb the spread of the coronavirus walks across a bridge in Tokyo, March 25, 2022. The report also highlighted changing monetary policy in the U.S. and a slowdown in China as other reasons for potential shocks in the region. As the U.S. Federal Reserve weighs raising interest rates to cool the U.S. economy and curb inflation, many Asian economies still lag behind in their pandemic recovery. The World Bank said countries like Malaysia may suffer outflows of currency and other financial repercussions from those changing policies.
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