World Bank warns: Less growth for China
Beijing (AsiaNews) - China will grow in 2013 with a gross domestic product of 7.7%, a significant reduction compared with 8.4% expected for the current year but still "good news. It means that economic growth will be less furious but more stable", says the World Bank in its Global Forecast Report.
According to
experts, the world growth in 2013 will slow down globally from 2.4%
forecast in January to 2.2%. The
Eurozone and its crisis will once again have an effect: compared to the global
average of 2.2%, in fact, the growth in
developing countries less affected by the collapse of the markets of the Old
Continent will be 5.1%.
The chief economist of the World Bank, Kaushik Basu, said: "Our forecasts
are essentially similar to those of six months ago, and in a turbulent global
economy, two periods with relatively little change is already good news."
One of the "victims" of the crisis in the euro area is the Middle East, which continues to suffer from the impact of the Arab Spring and the consequent reduction in investment. Sub-Saharan Africa should instead become more resistant and touch a growth of 4.9%, mainly driven by strong domestic demand and the increase in remittances from migrants.
The
second most developed economy in the world, China, will instead see its rapid
growth decelerate this year by 0.7 percentage points. But this slowdown,
experts say, will "correct some of the excesses in China, including the
unsustainable level of investment in the country."
Although from the macroeconomic point of view this reading is correct, Beijing
fears reductions in its GDP. Given the huge economic disparity inside the
country and its social instability, in fact, a decline in growth could
potentially trigger internal protests, already deeply felt despite the
repression of the Communist Party.
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