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Date: 17/10/2024

China’s GDP seen slowing further in 2025: World Bank

China’s economic growth will slow further in 2025 despite recent stimulus efforts aimed at boosting the economy, warned the World Bank in its latest economic outlook. China’s growth rate is expected to decline to 4.3% next year, down from an estimated 4.8% in 2024, according to the World Bank. The slowdown in China’s economy will also affect neighbouring countries. Growth in East Asia and the Pacific, including Indonesia, Australia, and South Korea, is forecast to fall to 4.4% in 2025, from around 4.8% this year. For decades, China’s rapid expansion has had a positive impact on its neighbours, but this influence is now waning. Recent fiscal measures, such as interest rate cuts, may offer a short-term boost to China’s economy. However, the World Bank stressed that long-term growth will depend on deeper structural reforms, as per a report.
 
Source: Exim News Service: washington, Oct. 16



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