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JUN 13, 2013 - Business Insider

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World Bank Cuts China's Growth Forecast And Warns Of A Possible 'Sharp' Slowdown

The World Bank has slashed its growth forecast for China's economy this year to 7.7 percent from 8.4 percent, warning of a potential "sharp" slowdown triggered by a fall in investment. The projection is lower than the 7.8 percent expansion the country recorded in 2012, which was its weakest in 13 years, and comes as a slew of data indicate the economy is struggling to pick up pace. "The main risk related to China remains the possibility that high investment rates prove unsustainable, provoking a disorderly unwinding and sharp economic slowdown," the World Bank said. It tipped growth to pick ... Read More

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