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World Bank cuts China’s growth forecast for this year



The World Bank has revised China’s economic growth forecast for this year to 4.5%, slightly down from its June prediction, and anticipates further slowing to 4.3% in 2025. This represents China’s most sluggish growth rate in over 30 years, excluding the pandemic years. Meanwhile, global GDP is projected to increase by 2.4%, according to the World Bank’s Global Economic Prospects report. However, the Bank warns of a third consecutive year of slowing global growth in 2024, potentially exacerbating poverty and debt in developing nations. As these concerns loom, the 54th annual World Economic Forum is set to convene next week amid challenging geopolitical circumstances. High-profile attendees including US Secretary of State Antony Blinken and French President Emmanuel Macron.

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