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| WORLD NEWS - WORLD NEWS - China economy |
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 18 Mar World Bank predicts lower growth in China
China's economic growth in 2009 has been readjusted from 7.5% to 6.5%, by the World Bank, on the basis that it could not "escape the impact of global weakness".
Falling demand for Chinese goods abroad is seen as the main reason for the reduction in the World Bank’s prediction of China’s growth potential.
However, the bank added that China's economy was still holding up well compared to other countries, and remained a bright spot amid all the financial gloom.
China is heavily dependent on the global economy that buys its imports. But as recession grips the US and Europe - which are among its largest customers - demand has fallen, resulting in factories closing and millions of people losing their jobs.
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