The World Bank has cut its growth forecast for China this year, from 5.4% to 5%, and warned that the Chinese economy could slow to 4% if conditions worsen and government policy responses are weaker. The World Bank also trimmed its growth forecast for East Asia and the Pacific for 2022 to reflect the economic impact of Russia's invasion of Ukraine, warning the region could lose further momentum if conditions worsen. WB East Asia and Pacific Chief Economist Aaditya Mattoo said the war between Russia and Ukraine was the “most serious risk” to the region's growth outlook leading to food and fuel price increases, financial volatility and reduced confidence across the world. Mattoo said the war's impact on economies in East Asia and the Pacific would vary depending on their exposure and resilience.
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