China Boom ‘Cushions World Slump’ – Steve Schifferes
The World Bank says global economic growth will slow in 2008 as the credit crunch hits the richest nations.
But it says that the “resilience” of developing countries will cushion the slowdown, with China still booming.
Overall, the Bank projects annual world economic growth to slow to 3.3% in 2008, compared with 3.6% in 2007. [Full text]