• Kyodo News


Asian Development Bank President Haruhiko Kuroda warned Thursday that protectionist measures will damage other economies and called on Asia to work more on coordinating macroeconomic policies to better deal with the global recession.

Projecting that the aggregate growth of developing economies in Asia in 2009 will be revised to just over 5 percent instead of 5.8 percent, Kuroda said Asian economies “must avoid ‘beggar-my-neighbor’ conditions” in which they try to benefit at the expense of others.

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