World Bank Raises China GDP Outlook to 11.3% – Polya Lesova
The World Bank increased its forecast for China’s GDP to 11.3% from 10.4% this year, saying that the country’s rapidly expanding economy is well-placed to absorb the impact of recent turmoil in the global financial markets.
China’s rapidly widening trade surplus and financial sector developments are fuelling domestic liquidity and pushing asset prices higher, the World Bank said in its China Quarterly Update published on Wednesday. [Full text]
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