-
World Bank trims 2015, 2016 East Asia forecasts, cites China, US rate risks
The World Bank cut its 2015 and 2016 growth forecasts for developing East Asia and Pacific, and said the outlook was clouded by the risk of a sharp slowdown in China and possible spillovers from expected increases in U.S. interest rates. The Washington-based lender now expects the developing East Asia and Pacific (EAP) region, which includes China, to grow 6.5 percent in 2015 and 6.4 percent in 2016, down from 6.8 percent growth in 2014. ts previous forecast in April was 6.7 percent in each of 2015 and 2016. "The baseline scenario for regional growth is subject to a greater-than-usual degree of uncertainty, and risks ... (full story)