IMF warns of Asia's darkening growth outlook as trade war bites

Asian nations face heightening risks to their economic outlooks as the U.S.-China trade war and slumping Chinese demand hurt the world’s fastest-growing region, the International Monetary Fund said on Friday. In its World Economic Outlook report on Tuesday, the IMF cut its economic growth forecast for the Asia-Pacific region to 5.0% for this year and 5.1% for 2020 – the slowest pace of expansion since the global financial crisis more than a decade ago. “Headwinds from global policy uncertainty and growth deceleration in major trading partners are taking a toll on manufacturing, investment, trade, and growth,” Changyong Rhee, director of the IMF’s Asia and Pacific department, said during a news conference at the IMF and World Bank fall meetings.