you are here: HomeNewsWorld

World Bank warns China growth could screech to a halt

The pandemic is causing "an unprecedented global shock, which could bring growth to a halt and could increase poverty across the region," said Aaditya Mattoo, World Bank chief economist for East Asia and the Pacific on Monday.

March 31, 2020 / 08:04 AM IST

The coronavirus pandemic's economic fallout could cause China's growth to come to a virtual standstill and drive 11 million more people in East Asia into poverty, the World Bank has warned.

The pandemic is causing "an unprecedented global shock, which could bring growth to a halt and could increase poverty across the region," said Aaditya Mattoo, World Bank chief economist for East Asia and the Pacific on Monday.

Even in the best-case scenario, the region will see a sharp slowdown, with China's growth slowing to 2.3 per cent from 6.1 per cent in 2019, according to a report on the pandemic's impact on the region.
PTI
first published: Mar 31, 2020 07:43 am

stay updated

Get Daily News on your Browser
Sections