ADB cuts 2011 China GDP forecast due to weak global economy

摘要

Regional lender the Asian Development Bank (ADB) has slashed its China GDP outlook for this year due to the country’s failure to restructure its economy towards domestic consumption. In its latest Asian Development Report, released yesterday, the ADB said it lowered its 2011 China GDP forecast to 9.3% from its previous forecast of 9.6%. The bank attributes the drop to the fact that the country is relying too much on investment and exports and not enough on domestic consumption.