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World Bank Cuts China Growth Forecast as Covid-19, Real-Estate Crunch Take Toll
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SINGAPORE—The World Bank said it expects developing economies in East Asia to grow faster than China this year for the first time since 1990, as the world’s second-largest economy struggles with a real-estate crunch and the government’s zero-tolerance approach to Covid-19.
The Washington, D.C.-based lender cut its forecast for Chinese growth this year but said it expects growth among 22 neighboring economies to more than double in 2022 compared with the pace they notched last year, as countries benefit from dismantling most Covid-19 restrictions and a revival in tourism.
Read more on wsj.comAbout this in other media
IMF tells central banks to focus on inflation as recession looms theguardian.com /2 years ago
China rushes to control new Covid cases across the country cnbc.com /2 years ago
China’s Covid Lockdowns Deal Another Blow to Consumer Spending wsj.com /2 years ago
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