Aaditya Mattoo, the World Bank’s chief economist for the East Asia and Pacific region. - World Bank
WASHINGTON (Bloomberg): A three-speed recovery is taking hold across East Asia and the Pacific, with China and Vietnam already beating their pre-pandemic levels of economic growth while other countries could take years more to heal, according to World Bank projections.
The developing countries of the region, excluding China, are set to expand 4.4% after contracting 3.7% last year, the World Bank said in a release Friday (March 26). Underneath those regional figures is a broad disparity, with Pacific Island nations set to grow just 1% after contracting 11.3% last year, and many recovering but still significantly behind their pre-pandemic levels of growth.
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