World Bank warns on East Asia slowdown


The World Bank has warned that a slowdown in China will drag growth in emerging East Asia to two-year lows this year.

In its East Asia and Pacific economic update, the World Bank cut its economic growth forecast for the region to 7.6%, down from over 8% last year.

The bank warned that Europe's debt crisis may inflict more damage if it worsens, and said that the region will need to reduce its reliance on exports.

Bert Hofman, the World Bank's Chief Economist for East Asia spoke to the BBC's Asia Business Report.

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