World Bank: China may slow for two years

14 December 2006

China's economy may slow over the next two years but should remain strong, according to a World Bank report. The country is still expected to drive East Asia's growth with expectations of strong investment and robust consumer spending. Although a slowdown in the US could hurt economies in the region that are dependent on exports, healthy demand from within should offset the loss from without, the Wall Street Journal reported. The report, Global Economic Prospects 2007: Managing the Next Wave of Globalization, says China's economy is expected to grow 9.6% in 2007 and 8.7% in 2008, down from this year's 10.4%.