The World Bank has cut its forecast for growth in China’s economy this year to 7.7 per cent, a sharp downgrade from the prediction of 8.2 per cent growth it made in May.
In a report on economies in East Asia and the Pacific published on Monday the global lender said there were concerns that China could slow further although it said the risk of a “hard landing” collapse remained small.
“China’s slowdown this year has been significant, and some fear it could still accelerate,” the report said. “The risk remains of a more pronounced slowdown in China than currently expected.”
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