China Weighs on Developing East Asia as World Bank Cuts Outlooks
- World Bank lowers China 2015 GDP growth forecast to 6.9%
- Scope in developing East Asia to ease policy is limited
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Developing East Asian economies are feeling the weight of China’s growth slowdown, with the World Bank cutting the region’s growth forecasts through 2017.
China’s growth will cool to 6.9 percent in 2015, slower than the 7.1 percent rate predicted in April, the World Bank said in its East Asia and Pacific Economic Update released Monday. Expansion will ease to 6.7 percent next year and 6.5 percent in 2017, it said. Developing East Asia will expand 6.5 percent this year, slower than the 6.7 percent predicted in April.