COVID-19 may cause 3.4 billion USD in losses to ASEAN

(VOVWORLD) - The Kasikorn Research Center has estimated that the COVID-19 epidemic will cause losses of 2.4-3.4 billion USD to ASEAN because of an economic slowdown in China, who has close ties with ASEAN in trade, investment, and tourism.

If the COVID-19 epidemic is contained in 6 months, Chinese economic growth may be 4.7% this year, 1% lower than expected, the Thailand-based institution said. That would cost ASEAN 2.4 to 3.4 billion USD, which is 0.07-0.11% of ASEAN’s annual gross domestic product, it reported.