Asia-Pacific 2019 growth to slow to 5.8 percent on trade tensions: World Bank

Asia Pacific economies are expected to slow this year due to uncertainty around US-China trade tensions and slowdowns in major global economies could further hurt the region's exports, a World Bank report said on Thursday.

Economic growth in the region is forecast to slip to 5.8% in 2019 from 6.3% in 2018.

The report highlights the weakening global demand and heightened uncertainty that led to a decline in exports and investment growth, and points out that increasing trade tensions pose a long-term threat to regional growth.

Countries with proximity to China as manufacturing centres will see limited benefit in the short term as trade tensions and global uncertainties intensify, the World Bank said.

China's growth is projected to slow to 6.1% this year, down from 6.6% in 2018, the report said.

The World Bank said that growth for East Asia and the Pacific is expected to slow to 5.7% in 2020 and 5.6% in 2021.