Jun. 8 – The United Nations expects Asia’s developing economies to grow by around 7 percent this year though a double-dip recession in the developed world could cut that growth by up to 1 percentage point, an assistant secretary general said on Monday.
“If there is a double dip then one would have to re-think the growth rates to some extent,” U.N. Assistant Secretary General Ajay Chhibber said, speaking at the World Economic Forum on East Asia.
“I think the downside for growth would be small, I mean it would be at most a 1 percentage point reduction in the overall growth rate.”
Concern over the impact of problems in Europe including the economies of Greece and Spain has tempered some of the optimism over the ongoing recovery to the global economy.
