| World Bank Reduces China’s Estimated Economic
Growth to 7.5 Percent in 2009 The World Bank cut its growth forecast for China’s economy to 7.5 percent for 2009, the lowest since 1990. The World Bank indicated that the estimated growth will mainly rely on increased government spending, which will spur GDP growth by over four percentage points, about 1.5 percentage points higher than last year. The World Bank also says that considering the scale of stimulus measures and the speed of the implementation, it will be difficult to ensure spending will be used in an efficient and transparent way. However, a survey targeting domestic entrepreneurs showed that more than half of them believe China’s economic growth will surpass nine percent in 2009. |
