Oct 4, 5:23 AM EDT

World Bank raises Asia growth forecast, warns of NKorea risk


Latest Business News
US looking to Japan for help in boosting LNG exports to Asia

Asia stocks mixed, Nikkei cheered by likely ruling party win

Negotiators give up hope of rewriting NAFTA this year

Hawaiian first, Virgin America last in on-time rankings

Trump indicates Fed search down to 5 finalists

Multimedia
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
UK interest rates set to rise as inflation hits 3 percent

US retail sales leapt 1.6 pct. last month, most in 2 years

IMF: World economy is picking up speed

Highlights of AP interview with Nobel winner Richard Thaler

A snapshot of Nobel economics winner Richard Thaler

Nobel goes to Richard Thaler, who made economics human again

The Latest: For 2nd year, no women among Nobel winners

Richard Thaler wins Nobel for work in behavioral economics

German factory production rises in August, allaying fears

ECB: Banks generally ready for rising rates

Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt

HONG KONG (AP) -- The World Bank has raised its growth forecast for the developing economies of East Asia and the Pacific but is warning that risks included rising protectionism and escalating tensions over North Korea.

In a report Wednesday, the bank forecast economic growth of 6.4 percent for the region this year.

Growth is expected to ease to 6.2 percent in 2018, mainly reflecting a gradual slowdown in China, Asia's biggest economy.

In its previous forecast in April, the Washington, D.C.-based lender projected a 6.2 percent expansion in 2017 and 6.1 percent for 2018.

While the outlook is broadly positive, the bank said economic nationalism could chill world trade.

Another big risk is tension over North Korea's nuclear and missile tests that could escalate into armed conflict.

© 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.