World Bank Cuts China Growth Forecast as Covid-19, Real-Estate Crunch Take Toll

SINGAPORE – The World Bank expects emerging economies in East Asia to outpace China this year for the first time since 1990 as the world’s second-largest economy struggles with a housing shortage and the government’s zero-tolerance approach to Covid – 19

The Washington, DC-based lender lowered its forecast for Chinese growth this year but said it expects growth in 22 neighboring economies to more than double in 2022 from a year earlier as the countries eased of most Covid-19 restrictions and a revival of tourism.