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A recovery in China, fueled largely by the country's huge economic stimulus package, is likely to begin this year and take full hold in 2010, the World Bank (WB) said Tuesday in its mid-year report.
The report, focusing on economic development of East Asia, forecast that real gross domestic product (GDP) growth in developing East Asia will reach only 5.4 percent in 2009, 1.3 percentage points lower than its previous forecast in December.
The bank defines developing East Asia as China, Indonesia, the Philippines, Thailand, Vietnam, Cambodia, the Lao PDR, Mongolia, Papua New Guinea and the island economies of the Pacific.
The bank in mid-March cut its forecast for China's 2009 economic growth to 6.5 percent from 7.5 percent. |
