{"id":1659175,"date":"2022-09-26T22:52:05","date_gmt":"2022-09-27T02:52:05","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1659175"},"modified":"2022-09-26T22:52:43","modified_gmt":"2022-09-27T02:52:43","slug":"world-bank-cuts-2022-east-asia-growth-outlook-cites-china-slowdown","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/world-bank-cuts-2022-east-asia-growth-outlook-cites-china-slowdown\/","title":{"rendered":"World Bank cuts 2022 East Asia growth outlook, cites China slowdown"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fworld-bank-cuts-2022-east-asia-growth-outlook-cites-china-slowdown%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1659175&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>MANILA (Reuters) \u2013     Economic growth in East Asia and the Pacific will weaken sharply in 2022 due to China\u2019s slowdown, but the pace of expansion will pick up next year, the World Bank said on Tuesday.<\/p>\n<p>The Washington-based lender said in a report it expected 2022 growth in the East Asia and Pacific region, which includes China, to slow to 3.2%, down from its 5.0% forecast in April, and the previous year\u2019s growth of 7.2%.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>The weaker forecast was due mainly to a sharp slowdown in China, caused by its strict zero-COVID rules that have disrupted industrial production, domestic sales and exports, the World Bank said. <\/p>\n<p>China, which constitutes 86% of the 23-country region\u2019s economic output, was projected to grow 2.8% this year, a significant deceleration from the bank\u2019s previous forecast of 5.0%. In 2021, China\u2019s economy expanded 8.1%, its best growth in a decade. <\/p>\n<p>For 2023, the world\u2019s second-largest economy was seen growing at 4.5%.<\/p>\n<p>\u201cAs they prepare for slowing global growth, countries should address domestic policy distortions that are an impediment to longer term development,\u201d World Bank East Asia and Pacific Vice President Manuela Ferro in a statement. <\/p>\n<p>Another risk to the region\u2019s outlook was aggressive interest rate hikes that central banks across the world are undertaking to combat soaring inflation. These have caused capital outflows and currency depreciations, the World Bank said. <\/p>\n<p>The multilateral aid agency cautioned policymakers on imposing price controls by way of subsidies, warning these measures would only benefit the wealthy and draw government spending away from infrastructure, health and education. <\/p>\n<p>\u201cControls and subsidies muddy price signals and hurt productivity,\u201d World Bank East Asia and Pacific Economist Aaditya Mattoo, said in a statement. <\/p>\n<p> (Reporting by Karen Lema; Editing by Kanupriya Kapoor)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/world-bank-cuts-2022\/attachment\/file-photo-a-participant-stands-near-a-logo-of-world\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8Q021-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8Q021-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA (Reuters) \u2013 Economic growth in East Asia and the Pacific will weaken sharply in 2022 due to China\u2019s slowdown, but the pace of expansion will pick up next year,<\/p>\n","protected":false},"author":66,"featured_media":1889240,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1659175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/business\/world-bank-cuts-2022\/?utm_source=rss&utm_medium=rss&utm_campaign=world-bank-cuts-2022","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1659175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1659175"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1659175\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889240"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1659175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1659175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1659175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}