An expected economic slowdown in China is likely to withdraw global growth down to its lowest level centuryOn Monday, the World Bank said it was proposing measures to prevent a “lost decade”. of growth.
The world’s potential growth – that it maximum long-term growth rate Without triggering inflation – it will slow to an annual average rate of just The World Bank said that 2.2% this contract in a permit.
confluence of Factors, including persistent influence of COVID-19 pandemic, war in Ukraine and its continuing risks financial section in Europe and the United States, all are slowing down global economythat bank expected to expand by just 1.7% this year.
The Washington-based multilateral lender expects China economy will help Keep global economy From entering recession due yearly growth rate of 5% this year.
But it is ability To maintain world’s economy afloat will vanish growth slows in coming years bank He said.
“We are used to China being the tractor of the global economyand that must change because China growth rate He will go down over World Bank Chief Economist Endermit Gil said during a press conference on Monday.
Then the question is, what are we going to replace China with with?” He said.
The answer is according bankis the solution he is looking to take advantage of on larger structural changes that every country can do to maintain economy he ran.
the bank The report said global economy There is a need to make three main changes to help Raising potential growth higherA bigger investment in capital and working human capital for long hours And using more technology To enhance productivity.
“china won” is replaced by one “What we have to do is number,” Gill said out how Every country can do better.”
