2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which country’s economy has emerged as the fastest growing economy among the 45 countries of the Asia-Pacific region as per the ADB’s report?
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Bangladesh
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Malaysia
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India
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China
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Explanation:
Detailed explanation-1: -In recent decades, China has grown substantially faster than average and the country is now the second largest economy in the world by nominal GDP. In 2021, China had a nominal GDP of $17.73 trillion and a GDP, PPP of $27.31 trillion.
Detailed explanation-2: -It predicted a rise of 3.1 per cent in FY 2024. India remains the fastest-growing economy in the world with the current estimates surpassing growth in emerging and developing Asia as well as projections on China’s economy.
Detailed explanation-3: -ADB’s 7 per cent growth projection for fiscal 2022-23 (April 2022 to March 2023), unchanged from its September forecast, compares to 8.7 per cent GDP growth in 2021-22.
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