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Print[Ferro-Alloys.com]The flare-up between China and Japan over the Diaoyu Islands will have a limited effect on the GDP of the two economies while benefiting some neighboring ones, said a Moody's report released on Friday.
Lower production caused by the dispute in China would hurt its GDP, while lower stock prices might hurt Japanese households, said Alaistair Chan, an economist at Moody's Analytics, writer of the report.
As a result, lower component imports could hurt producers in Thailand, he wrote.
"Although the effects are more widespread, they are also more diffuse and hence likely to amount to less than 0.1 percent of GDP for either country."
The International Monetary Fund cut the growth forecast on Tuesday for China by 0.2 percentage points to 7.8 percent from the projections in July, and lowered that of Japan also by 0.2 points to 2.2 percent.
The forecast for global economic growth this year was lowered to 3.3 percent from 3.5 percent
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