2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A report by the Asia-Pacific Economic Cooperation (APEC) Secretariat stated that the APEC region is expected to post how much percent economic decline in 2020 due to the impact of COVID-19?
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2.7%
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3.7%
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1.7%
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4.7%
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Explanation:
Detailed explanation-1: -For the region as a whole, growth is projected to slow to 3.2% this year from 7.2% in 2021, before accelerating to 4.6% next year, the report says.
Detailed explanation-2: -A recession is unlikely in the Asia-Pacific (APAC) region in the coming year, although the area will face headwinds from higher interest rates and slower global trade growth, Moody’s Analytics said today.
Detailed explanation-3: -APEC’s work focuses on three key areas: trade and investment liberalization, business facilitation, and economic and technical cooperation. It aims to create greater posterity for the people by promoting balanced, inclusive, sustainable, innovative, secure growth and advancing regional economic integration.
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