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#: World Bank lowers outlook for China, broader East Asia based on Russia’s energy impact, rising U.S. rates

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“: World Bank lowers outlook for China, broader East Asia based on Russia’s energy impact, rising U.S. rates”

China’s economy is expected to grow 5.0% this year, down from a previous estimate of 5.4%, the World Bank said

The World Bank cut its growth forecast for East Asia and the Pacific for 2022 — which includes growth engine China — to reflect the economic pinch of Russia’s invasion of Ukraine.

The Washington-based lender said in a report early Tuesday Asian time that it expected 2022 growth in the region to expand 5.0% percent, lower than its 5.4% forecast issued in October.

China’s…

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Rachel Koning Beals

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