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ASEAN+3 grouping warns on shift towards protectionism
May 5, 2017 / 9:11 AM / 7 months ago

ASEAN+3 grouping warns on shift towards protectionism

YOKOHAMA (Reuters) - A shift towards protectionism poses downside risks to global growth, finance ministers and central bankers from major Asian economies warned on Friday.

Policymakers from Japan, China, South Korea and ASEAN member states issued the warning in a statement after a summit on the sidelines of an Asian Development Bank meeting.

“The sources of uncertainties include an inward shift in policies, including toward protectionism, and sharper-than-expected financial tightening,” the officials said in the joint statement.

Asian policymakers are committed to supporting open multilateral trade and investment, they added.

Reporting by Stanley White; Editing by Clarence Fernandez

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