ADB also trims Asia forecast

HONG KONG: Weaker growth in China this year is expected to cause a slowdown in the rest of Asia, the Asian Development Bank (ADB) said on Tuesday as it became the latest major body to revise down its forecasts for the world’s number two economy.

It also warned central banks to prepare for an expected Federal Reserve interest rate rise, with many nations already seeing huge capital outflows as dealers look for safer US investments.