UPDATE 1-World Bank cuts East Asia GDP outlook, flags China risks
* China GDP outlook cut to 7.7 pct in 2012, 8.1 pct in 2013
* QE3 likely to have less impact on emerging Asia
* Food inflation not a worry for region, rice prices stable
By Kevin Lim
SINGAPORE, Oct 8 (Reuters) - The World Bank cut its economic growth forecasts for the East Asia and Pacific region on Monday and said there was a risk the slowdown in China could worsen and last longer than many analysts have forecast.
"Unlike the rest of the region, China is experiencing a double whammy -- the growth slowdown is driven by weaker exports as well as domestic demand, in particular investment growth," World Bank Chief Economist for East Asia and the Pacific Bert Hofman said at a briefing in Singapore.
- Sierra Leone declares emergency as Ebola death toll hits 729 |
- S&P 500 posts worst day since April; indexes down for month
- U.S. man sues soccer star Cristiano Ronaldo over CR7 trademark
- Moscow fights back after sanctions; battle rages near Ukraine crash site |
- Netanyahu vows to complete Gaza tunnels destruction |