ADB Says Asia Heads for ‘New Normal’ Growth

It is not just China that is headed for a “new normal” if policy makers are to be believed. The Asian Development Bank’s recent examination of growth potential shows declines almost everywhere across the region and that it is not a cyclical issue. According to the 2016 edition of the bank’s annual Asian Development Outlook (ADO), at the very least this “new normal” will see a major shift of the epicenter of growth from developing east and Southeast Asia to South Asia. There are several ingredients to this decline in growth potential and combined they may well make the end result worse than the development outlook suggests.

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