ADB亚洲开发银行：2025年9月亚洲发展展望报告：随着新的全球贸易环境的形成，增长放缓（英文版）

The region’s outlook will be shaped by offsetting factors. Higher US tariffs and elevated trade policy uncertainty will weigh on economic activity. Robust domestic demand, electronics and AI-driven exports, and policy support will help cushion external headwinds. Inflation will continue to moderate, as energy and food prices ease further. Downside risks stem from renewed tariff hikes, geopolitical tensions, further deterioration in the PRC’s property market, and financial market volatility. P