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World Bank: China's demand slowing down
(Reuters)
Updated: 2005-08-17 07:10 WASHINGTON �� China's domestic
demand is beginning to cool, and the recent yuan revaluation could further slow
the Asian powerhouse's investment boom, the World Bank said Tuesday, Reuters
reported.
The Washington-based lender said that although China's gross domestic product
is growing briskly �� it forecast output would swell 9 percent this year and 8
percent in 2006 �� much of the current momentum came from abroad.
"Net of external demand, the (gross domestic product) numbers suggest that a
slowdown in domestic demand is under way," the World Bank (search) said in a
quarterly assessment of the Chinese economy.
"Slower credit and profit growth, lower foreign direcly positive. But it said
the country faced risks from a possible slowdown in world trade.
"A two-way risk is formed by the considerable uncertainty on the extent to
which domestic demand, notably investment, is slowing," it added.
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