World Bank lifts China view, slashes Asia outlook on Delta wave

Pandemic may do lasting damage in Asia Pacific, says lender

The World Bank lifted its China growth forecast, while slashing its outlook for the rest of the East Asia and Pacific region as the spreading delta variant hammers manufacturing and tourism, and low vaccination rates hamper the recovery.
 
The lender now expects China to grow 8.5 per cent this year compared to the 8.1 per cent it forecast in April, though it cautioned the recovery is losing momentum. It slashed its outlook for East Asia and Pacific, excluding China, to 2.5 per cent from the 4.4 per cent previously expected. Overall regional growth is seen at 7.5 per cent,