While there is huge uncertainty about 2020 growth prospects, and even more so about the 2021 outlook, the impact of the coronavirus on the region will across the board be severe and unprecedented. Asia has been among the fastest-growing regions in the world.
During previous crises such as the Asian financial crisis in 1997 and the global financial crisis around 2008-2009, the region still registered average growth rates of 1.3% and 4.7%, respectively.
