WB: Economic downturn in China may worsen – what is threat

12:00 - 8.10.2024


October 8, Fineko/abc.az. The World Bank warns that the economic downturn in China may intensify, which will put pressure on the whole of East Asia.

ABC.AZ reports that China expects a deeper slowdown, despite increased stimulus measures. The WB says that changing trade and investments is also key for the region.

According to WB’s forecasts, China's economic growth will slow further in 2025, even with a temporary increase as a result of recent stimulus measures, which will create additional pressure on regional economies.

China's economic growth is expected to decline to 4.3% next year from an estimated 4.8% in 2024, according to bank's semi-annual economic outlook. As a result, economic growth in East Asia and the Pacific, which includes countries such as Indonesia, Australia and Korea, will slow to 4.4% in 2025 from about 4.8% this year.