World Bank Sees Brexit Impact on E. Asia As Minimal: Report

Singapore — Britain’s recent vote to exit the European Union is expected to have only a minimal impact on developing countries in East Asia but there are some risks, the World Bank said in a report released Wednesday.

“On the positive side, the U.K.’s Brexit vote, and the upcoming Brexit process, are likely to have only a small impact on developing East Asia and the Pacific, given the region’s limited direct trade and financial links with the United Kingdom,” the bank said in its East Asia and Pacific Economic Update (October).

However, “there is a risk of sustained financial market stress around key decision dates in the upcoming Brexit process,” it said. (PNA/Kyodo) FPV/RSM