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ADB trims China, developing Asia growth forecasts

The Asian Development Bank trimmed its growth forecasts for China and developing Asia this year and next owing to weakness the world's number two economyThe Asian Development Bank Thursday trimmed its growth forecasts for China and developing Asia this year and next owing to weakness the world’s number two economy. After a slow first half, full-year gross domestic product (GDP) growth in China is now estimated at 7.0 percent this year and 6.8 percent next year, the Manila-based lender said in a statement. “Slower growth in (China) is likely to have a noticeable effect on the rest of Asia given its size and its close links with other countries in the region,” chief ADB economist Wei Shang-Jin said.

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