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Download Personal Backup 6.3.3.08/20/2023 ![]() ![]() Asscities expand over municipal boundaries and become more connected with one another through fl ows of goods, services, and people, better planning coordination is needed at all levels of government. To enjoy the economic benefi ts of agglomeration, cities must function welllas labor markets, which requires sound urban planning, ee cient public transport, and aa ordable housing. This Update highlights how urbanization can foster economic growth and inclusion in Asia's cities. Proliferatinggprivate debt in some Asian economies could pose another challenge to fi nancial stability. The risk of deeper malaise in the global economy, and uncertainty over how policy makers around the world will respond to weaker global growth, may stoke volatility in global fi nancial markets. Trade tensions between the United States and the People's Republic of China could escalate further or even spread beyond trade and these two economies, the world's largest. Downside risks to the outlook have intensifi ed. Infl ationnremains benign, but pressure is building slightly as food prices rise. AAslowing trend continued in the fi rst half of in most regional economies, especially the wealthier newly industrialized economies and the People's Republic of China, as shrinking global trade and declining investment constrained growth. Growth in developing Asia remains robust despite expected moderation.
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