China’s economy has “cooled rapidly” and will slump further over the next year, according to World Bank forecasts.
The bank said on Dec. 22 that it expects China’s inflation-adjusted gross domestic product (GDP) for 2021 to grow at 8 percent, lower than a projection of 8.5 percent in June. It further cut the country’s growth forecast for next year to 5.1 percent from 5.4 percent.
