East Asia and Pacific Growth Outpaces Global Average, Despite China's Economic Challenges

The World Bank reports growth in East Asia and the Pacific is expected to slow in 2024, with China's economic headwinds and global uncertainties posing significant risks.

Developing East Asia and the Pacific region is growing faster than the rest of the world but faces a slowdown compared to pre-pandemic levels.
China's economic growth is projected to moderate due to high debt, a weak real estate sector, and geopolitical trade tensions.
Countries in the region, excluding China, are expected to see a slight increase in growth, driven by external demand for exports.
Global trade barriers, policy uncertainties, and higher interest rates in major economies are identified as key risks to the region's growth.
The World Bank emphasizes the need for bold policy actions to improve infrastructure, education, and competition to boost the economy.