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World Bank says China growth rate will drop next year doubt over recent stimulus measures

  • October 9, 2024
  • -Chinese Yuan, FCHFX

October 09, 2024 at 05:30AM
China Growth Set to Slow Further in 2025, World Bank Says

World Bank forecasts China’s GDP growth to drop to 4.3% in 2025 from 4.8% in 2024

2024 estimate revised up 0.3% on stimulus measures, but 2025 projection unchanged

Weak consumer spending, property market woes, aging population cited as challenges

Recent stimulus focused on supply side, may not boost consumer demand

Deeper structural reforms needed for long-term growth, World Bank economist says

Rest of East Asia/Pacific region expected to grow 4.7% in 2024, 4.9% in 2025

Region urged to find domestic growth drivers as China’s economic influence wanes

Key quote: “The question is whether [the stimulus] can actually offset consumer concerns about declining salaries, concerns about declining property incomes and fears about falling ill, growing old, becoming unemployed,” – Aaditya Mattoo, World Bank

This article was written by Eamonn Sheridan at www.forexlive.com.

World Bank says China growth rate will drop next year doubt over recent stimulus measures
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