ADB cuts China growth forecast to lowest in generation
Asian Development Bank revises down flagship growth projection for 2015 to 6.8%
The Asian Development Bank (ADB) has cut its growth forecast for China this year amid a drop in exports and unprecedented stock market volatility, projecting the country's lowest annual growth rate since 1990.
The ADB, which projected Chinese growth of 7.2% in its flagship annual economic outlook report in March, trimmed that figure to 6.8% in an update today (September 22). It also cut the forecast for 2016 from 7% to 6.7%, citing slowing investment and export growth.
China has battled stock
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