Skip to comments.World Bank cuts China growth forecast
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 bbc.co.uk ...
i must say, this is unexpected
A lot the growth in China is done with smoke and mirrors. (Mainly smoke)
Some mirrors too. Beijing calls that urbanization. But I would call that building ghost cities.