From AP:
The World Bank cut its 2008 economic growth forecast for China to 9.6 percent from 10.8 percent on Monday due to cooling global export demand and said storms battering southern China should have little long-term impact.
Growth should be buoyed by expected strong demand from China’s own consumers, though a possible U.S. slowdown might hurt the country’s large export sector, the bank said in a quarterly report.
Economists have slashed forecasts for China’s fast-growing economy amid worries that a U.S. recession could cut American imports and hurt other Chinese markets such as Europe and Japan.
