China’s Economy May Be Stabilizing, World Bank Says |
| Bloomberg - Mar 18, 2009 |
China’s economy is showing “early signs” of stabilizing as government-backed investment counters a slump in exports, the World Bank says.
The lender cut its forecast for the nation’s economic growth this year to 6.5 percent in a quarterly report released in Beijing today. Its estimate was 7.5 percent in November.
China is weathering the global slowdown better than many nations because its banks were largely unscathed by the financial crisis and the government quickly implemented a 4 trillion yuan ($585 billion) stimulus plan, the lender said. Government-influenced investment will surge 26 percent this year and contribute three-quarters of the economic expansion, it said.
Read Full Article from Bloomberg
- Posted: 2009-03-18 08:20:48
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