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World News

Emerging Asia Forecasts Cut Amid Fed Taper Concern: Economy

A slowdown in China and India is reverberating across the region with the Asian Development Bank forecasting easing expansion this year, putting pressure on policy makers to take steps to bolster their economies.

Developing Asia, which excludes Japan, will probably grow 6 percent in 2013 and 6.2 percent next year, the Manila-based lender said in a report today. In July, it had forecast expansion of 6.3 percent this year and 6.4 percent in 2014. Full story