Under the influence of unfavorable factors such as slowing global demand, rising debt, and inflation, the world bank has lowered its forecast for economic growth in East Asia and Pacific.
Bloomberg quoted a report released on Tuesday (September 27) that economic growth in East Asia in 2022 is expected to slow from 7.2%last year to 3.2%, which is far lower than the April forecast in April.5%growth rate.East Asia's economic growth rate next year is expected to rebound to 4.6%.
East Asia's economic outlook is dragged down by China's economic growth.Affected by the constraints of sustainable epidemic prevention and the downturn in the property market, China's economic growth rate forecast this year will be reduced from 8.1%in 2021 to 2.8%.In April of this year, the World Bank predicted that China's economic growth rate will reach 5%this year.
The World Bank said that the order of order weaknesses on exports of East Asia will affect demand. With the depreciation of the currency in East Asia, the rising global interest rate is attracting capital to withdraw from East Asia.
Aaditya Mattoo, the chief economist of the World Bank East Asia and the Pacific region, said that the US dollar is half a strong and bad.Bringing pressure.
Matu said that from the perspective of inflation and debt burden, the strengthening of the US dollar is bad news, but from the perspective of exports, it is good news.He also said that the weakening of regional currencies may boost the tourism industry.
