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World Bank cuts China growth forecast
BBC News ^ | 06/13/2013 | BBC

Posted on 06/12/2013 7:04:47 PM PDT by TexGrill

The World Bank has cut its growth forecast for China amid warnings of slower but more stable global growth over the coming months.

The bank now expects the China to grow 7.7% in 2013, down from its earlier projection of 8.4%.

It also cut the forecast for global economic growth to 2.2% from 2.4%.

It said that growth remained subdued in high income countries, especially in Europe, despite improvements in financial conditions.

"While there are markers of hope in the financial sector, the slowdown in the real economy is turning out to be unusually protracted," said Kaushik Basu, chief economist at the World Bank.

(Excerpt) Read more at ...

TOPICS: Business/Economy; Foreign Affairs; Government; News/Current Events
KEYWORDS: chinaeconomy
Memo: Beijing officials, you must now revise your fake GDP figures to reflect the World Bank's GDP forecast. Lower China's GDP numbers slightly so that it looks more believable.
1 posted on 06/12/2013 7:04:47 PM PDT by TexGrill
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To: TexGrill

i must say, this is unexpected

2 posted on 06/12/2013 7:05:29 PM PDT by beebuster2000
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To: beebuster2000

A lot the growth in China is done with smoke and mirrors. (Mainly smoke)

3 posted on 06/12/2013 7:08:14 PM PDT by Fai Mao (Genius at Large)
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To: Fai Mao

Some mirrors too. Beijing calls that urbanization. But I would call that building ghost cities.

4 posted on 06/12/2013 7:10:35 PM PDT by TexGrill (Don't mess with Texas)
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