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Asia’s industries, primarily manufacturing, fueled phenomenal economic growth and poverty reduction in recent decades. But today many countries are looking to the service sector as an alternative.
Asia’s developing countries will not be spared from the impact of a recession in advanced economies, with the effect mainly to be on trade, the Asian Development Bank said.
Targeted subsidies on the most affected sectors should be the short-term solution to manage soaring inflation and not the suspension of excise taxes on fuel products, the Asian Development Bank said.
AS commodity prices continue to spiral, poor households should consume less wheat-based foods and increase their consumption of more accessible grains like rice, according to economists from the Asian Development Bank (ADB). For Filipinos, this may mean consuming less pan de sal, a breakfast and merienda staple, to avoid being…