Seoul/Singapore | China’s economic output will lag the rest of Asia for the first time since 1990, according to new World Bank forecasts that highlight the damage wrought by President Xi Jinping’s zero-COVID policies and the meltdown of the world’s biggest property market.
The World Bank has revised down its forecast for gross domestic product growth in the world’s second-largest economy to 2.8 per cent, compared with 8.1 per cent last year, and from its prediction in April of between 4 and 5 per cent for this year.
