Arab Today, arab today world bank cuts china east asia growth forecasts
Last Updated : GMT 17:51:09
Arab Today, arab today
Arab Today, arab today

World Bank cuts China, East Asia growth forecasts

Arab Today, arab today

Arab Today, arab today World Bank cuts China, East Asia growth forecasts

China's economy
Singapore - AFP

The World Bank on Monday trimmed its growth forecasts for developing East Asian economies this year and next, as China's economic expansion loses momentum and policymakers face tighter global monetary conditions.
Developing countries in East Asia and the Pacific are likely to see a growth of 6.9 percent this year and in 2015, slower than the 7.1 percent the bank had forecast in April, it said in an updated report.
China's economy is forecast to grow 7.4 percent this year and 7.2 percent next year, compared with 7.6 percent and 7.5 percent projected in April as the government addresses financial vulnerabilities and structural constraints. China's economy expanded 7.7 percent in 2013.
But the bank's chief Asia economist Suhdir Shetty said China's slowdown is unlikely to be "dramatic" enough to have a major impact on the region.
"China's slowdown is gradual.. It is slower but it's not the bottom falling out of China's growth," he told reporters in Singapore.
He also said that the link between the giant Chinese economy and the rest of Asia does not only involve demand,  which is expected to weaken due to the slowdown.
China's links also involve investments which could even increase to parts of Asia as Chinese companies venture out of the country, Shetty said.
Developing East Asian countries, excluding China, are expected to grow 4.8 percent this year and 5.3 percent in 2015 from 5.2 percent in 2013.
- 'Unchartered waters' -
Growth in Southeast Asia's five biggest economies -- Indonesia, Malaysia, the Philippines, Thailand and Vietnam -- is forecast to slow down to 4.5 percent this year from 5.0 percent in 2013, but is likely to pick up and expand 5.0 percent next year as demand for exports grow.
"The good news for the ASEAN Five is that there will be a period of rising demand for their exports," Shetty said, adding however that these countries must continue to implement structural reforms, invest in infrastructure and improve their investment climate in order to sustain growth.
Indonesia is expected to grow 5.2 percent this year and 5.6 percent next year from 5.8 percent in 2013.
Malaysia's growth is forecast to rise to 5.7 percent this year from 4.7 percent last year, before easing to 4.9 percent in 2015.
The Philippines is forecast to expand at 6.4 percent this year and 6.7 percent in 2015 from 7.2 percent in 2013.
Thailand is likely to grow 1.5 percent this year and 3.5 percent next year from 2.9 percent in 2013 as the political situation stabilises.
Vietnam is expected to grow 5.4 percent this year and 5.5 percent next year. It expanded 5.4 percent in 2013.
Shetty said a key risk for regional economies is a "disorderly" tightening of monetary policy in the United States, Europe and Japan which would lead to a steep rise in interest rates.
He said there was no reason to doubt that a tightening of monetary policy in the developed economies would be gradual, but there was also a risk that it could be abrupt.
"To be completely frank, these are unchartered waters... Yes, there is a possibility it will happen in a disorderly fashion and that's when there could be risks," he said.
Sharply higher interest rates could lead to a reduction in capital flows and affect countries which are dependent on them to finance their deficits, he said.
Higher rates could hurt the property markets in several countries, he added.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world bank cuts china east asia growth forecasts Arab Today, arab today world bank cuts china east asia growth forecasts

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today world bank cuts china east asia growth forecasts Arab Today, arab today world bank cuts china east asia growth forecasts

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday