The Asian Development Bank cut growth forecast for developing Asia on Thursday, citing Europe’s worsening financial crisis, sluggish recovery in the US and slower growth in China and India. The bank predicted that the region’s economies will expand by 6.6 percent this year and 7.1 percent next year. The figures are lower than the bank’s growth outlook announced in April of 6.9 percent this year and 7.3 percent in 2013. However, it said a strong rebound in Thailand, healthy growth in the Philippines, and increasing consumer demand in Indonesia have aided Southeast Asian economies.—AP
Exodus: Tens of Thousands Flee as Myanmar Junta Troops Face Last Stand in Kokang
Myanmar National Democratic Alliance Army troops are opening roads and pathways through forests for people to flee Kokang’s capital as...
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