As reported by Reuters, the World Bank is weighing in on US-China trade relations, noting that they expect China’s economic growth to slow to 6.2% in 2019.
Key quotes
“Looking ahead, China’s key policy challenge is to manage trade-related headwinds while maintaining efforts to limit financial risks,” the bank said its latest assessment on the world’s second-largest economy.
Consumption will remain the main driver of China’s economy, as weaker credit growth weighs on investment and slowing global demand and higher U.S. tariffs on Chinese shipments take a toll on the country’s exports, the report said.
In October, the International Monetary Fund cut its forecast on China’s 2019 economic growth to 6.2 percent from 6.4 percent while keeping its 2018 outlook unchanged.
The World Bank said that while China continues its trade talks with the United States, it should increase its efforts to address trade partners’ concerns over intellectual property protection and technology transfers.
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