Emerging economies seen as a drag on global growth: report

Tokyo

FROM being the darlings of the market when advanced economies slumped after the global financial crisis, many emerging economies are being seen now as a drag on global growth with China's slowdown impacting Asia generally, while other emerging economies in the region are also slowing.

The transition is highlighted by the Washington-based Institute of International Finance (IIF) in its latest Global Economic Monitor which says that 2015 "has not started as well as hoped" for the global economy with overall growth having apparently slowed to 2 per cent in the first quarter of the year".