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Economists warn that a Greek departure from the euro could cause collateral damage to the world economy.

Citing JPMorgan Chase estimates, Bloomberg reports that a 1 percentage point slump in the euro countries’ economy drags down growth elsewhere by 0.7 percentage point. 

“If you let Greece go you would be sending the message that being a member of the euro zone is not necessarily permanent, which could be a disaster for some countries,” Laurence Boone, chief European economist at BofA Merrill Lynch in London, told Bloomberg.

China’s biggest investment bank says that the nation could see its weakest growth in more than two decades if Greece does quit the euro. China's expansion could reduce to 6.4 percent this year.

The China International Capital Corp. projects that Chinese exports may fall 3.9 percent this year if Greece leaves, compared with a 10 percent gain without an exit.

A “renewed, deep recession would be highly likely in Hong Kong, Singapore, Malaysia, Taiwan and Korea,” notes Robert Prior-Wandesforde, Singapore-based director of Asian economics at Credit Suisse, in a report obtained by Bloomberg.

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