"In 2022, most of East Asia and the Pacific recovered from the COVID-19 effects, but China's growth slowed down as a result of ongoing virus-fighting efforts.
Looking ahead, a slowdown in global demand, growing debt levels, and a focus on quick fixes for rising (food) and fuel prices might all harm the region's economy, the forecast notes.
As a result, growth in East Asia and the Pacific, excluding China, is anticipated to increase to 5.3% in 2022 from 2.6% in 2021.
After expanding by 8.1 percent in 2021, the GDP of China is predicted to expand by just 2.8 percent in 2022.
source: worldbank.org
Looking ahead, a slowdown in global demand, growing debt levels, and a focus on quick fixes for rising (food) and fuel prices might all harm the region's economy, the forecast notes.
As a result, growth in East Asia and the Pacific, excluding China, is anticipated to increase to 5.3% in 2022 from 2.6% in 2021.
After expanding by 8.1 percent in 2021, the GDP of China is predicted to expand by just 2.8 percent in 2022.
source: worldbank.org