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Asian economies to be hit by war

In preparation for a possible war on Iraq, the Asian Development Bank (ADB) has sliced East Asia’s economic growth predictions for this year. Uncertainties regarding importing to and exporting from the Middle East have made Asian businesses and consumers less confident in this trading market. Asian economies that had originally been predicted to grow by an average of six percent but now will most likely face a decrease in their economic growth forecasts include Cambodia, Indonesia, South Korea, and the Philippines.

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