The Asian Development Bank says it expects developing economies in the region to grow at a 5% annual pace this year, up slightly from its earlier estimate of 4.9% growth.
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The report cited data from World Semiconductor Trade Statistics projecting that spending on memory chips, vital for AI applications, will expand 77% this year. Asia’s developing economies are also vulnerable to other U.S. moves that might affect their currencies or the cost of borrowing on foreign loans, the report said.
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