Wednesday, March 18, 2009

The World Bank has cut its prediction for China's economic growth in 2009 from 7.5% to 6.5%


The World Bank has cut its prediction for China's economic growth in 2009 from 7.5% to 6.5%, saying it could not "escape the impact of global weakness".

Falling demand for Chinese goods abroad is seen as the main reason for the cut.

But the bank added that China's economy was still holding up well compared to other countries, and remained a bright spot amid all the financial gloom.

Analysts are particularly worried about a slowdown in China, due to the threat of social unrest if the economy stalls

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