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China’s economic growth will slow sharply in 2022, World Bank estimates


World Bank On China Economy: The growth of the economy in China is expected to slow down in 2022. The World Bank says that China’s economic growth will slow rapidly in 2022. The World Bank has cut its forecasts for China’s economic growth this year and next. The world’s second largest economy is facing a slowdown in the property sector due to the Omicron variant of Corona. The World Bank now expects China’s gross domestic product (GDP) to expand by 8% in 2021 from a year ago, which is lower than its previous forecasts.

China’s economic growth will slow sharply in 2022

The World Bank in October expected China’s economy to grow 8.1 percent this year, compared to 8.5% growth forecast in June. The World Bank also lowered its 2022 forecast from 5.4 per cent to 5.1 per cent, marking the second slowest pace of growth for China since 1990. China’s economy grew by 2.2% in the year 2020.

World Bank’s report on China’s economy

The World Bank said in its latest report on China’s economy on Wednesday that downside risks to China’s economic outlook have increased. It has been said in the report that due to other variants, including the Omicron variant of Kovid, there may be further disruption in economic activities. Apart from this, the slowdown in the property sector may continue. Which will hurt the economy.

economic trouble for china

A year-long comprehensive regulatory crackdown on the tech, education and entertainment sectors due to the pandemic has hit stocks. It also triggered massive layoffs among many companies, putting pressure on the job sector. The growing economic headache has forced China to rethink its approach to policy. Chinese President Xi Jinping and many other big leaders have included stability as their top priority for 2022.

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