In its latest economic assessment report of the Asia Pacific economies, Moody’s Investors Service downgraded China’s 2020 GDP forecast, in the face of the coronavirus impact.
Key Points:
Growth to slow across Asia Pacific as coronavirus weakens demand and disrupts supply chains.
Lowered our China growth forecast to 5.2% for 2020 from 5.8% previously, reflecting a severe but short-lived economic impact.
Lower Chinese import demand is the primary reason for slowing growth.
Intra-regional trade amplifies the impact of lower Chinese growth.
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