World Bank Predicts Slower Growth In East Asia
STEVE INSKEEP, HOST:
NPR's business news starts with slower growth in East Asia.
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INSKEEP: That prediction comes from a World Bank report released today. The bank warns of a deeper and longer slowdown in the region caused by weak exports and weak domestic demand.
At the center of all this is a greater than slowing of the Chinese economy. The bank cut its annual growth prediction for China to 7.7 percent, which is down about half a point. Though next year, they expect China's economy to rebound a bit, helped by government stimulus measures.