World Bank Slashes China’s Growth Outlook To 2.7 Percent In 2022 

The World Bank has slashed its growth outlook for China’s economy, as nearly three years of zero-COVID” curbs and a real estate slump weigh on the world’s second-largest economy. <br />The Washington, DC-based institution cut China’s expected growth for 2022 to 2.7 percent, down from 4.3 percent in June. <br />China’s projected growth for next year was slashed from 8.1 percent to 4.3 percent. <br />The World Bank said in a statement says Economic activity in China continues to track the ups and downs of the pandemic – outbreaks and growth slowdowns have been followed by uneven recoveries. <br />Mara Warwick, World Bank country director for China, Mongolia, and Korea, says China’s continued adaptation of its pandemic policies would be crucial to the country’s economic recovery and public health.