ADB warns against rising protectionism
The Asian Development Bank warned on Tuesday the Asia - Pacific region against “the threat of rising protectionism” to preserve the region’s growth momentum. In a new report released on Tuesday, the Manila-based bank said that strengthening trade linkages and attracting foreign direct investment will contribute to the region’s growth and help improve resilience to emerging protectionism. The report titled Asian Economic Integration Report 2016 examined current trends in trade, finance, migration, remittances, and other regional cooperation and integration issues, with a special chapter on the factors behind the growth of FDI in the region. Juzhong Zhuang, ADB’s deputy chief economist, said trade and FDI have been key drivers of growth and prosperity in the Asia-Pacific region.