China’s economic re-balancing will shave a few percentage points off its neighbors’ growth outlook in the coming years, the World Bank announced on Wednesday.
Gross domestic product (GDP) in developing East Asia will ease to 6.3 percent in 2016 and 6.2 percent in 2017-18, versus 6.5 percent in 2015, the Washington-based institution predicted in a new report, adding that the forecasts reflected China’s transition to a slower, more sustainable growth model.
“Developing East Asia and Pacific faces elevated risks, including a weaker-than-expected recovery in high-income economies and a faster-than-expected slowdown in China,” said Sudhir Shetty, chief economist of the World Bank’s East Asia and Pacific region. “At the same time, policy makers have less room to maneuver in setting macroeconomic policy.”
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.