World Bank and CCG launch the latest edition of "Global Economic Prospects" report in China

The Center for China and Globalization (CCG) will be co-hosting a webinar with the World Bank to launch the January 2022 edition of “Global Economic Prospects” in China and to analyze the latest trends of the Chinese and global economy, featuring the speakers -
Wang Huiyao, CCG President;
Ayhan Kose, Chief Economist and Director of World Bank's Prospects Group;
Martin Raiser, World Bank's Country Director for China, Mongolia and Korea;
Ekaterine Vashakmadze, Senior Country Economist at World Bank's Prospects Group

“Global Economic Prospects” is the World Bank Group's flagship report on global economic development and prospects, with a focus on emerging markets and developing economies, published semiannually. It presents in-depth analysis of topical issues in global and regional economies, and serves as an important reference for governments and businesses around the world. This will be the 4th time that CCG and the World Bank partner together for the official launch of the report in China.

According to the latest edition of “Global Economic Prospects” report, which outlines predictions on the global economy for 2022 by the World Bank, the world economy is facing a set of challenges including surging inflation, high debt, intensified inequality and policy uncertainty. The global economy is expected to grow by 4.1% in 2022 and 3.2% in 2023. China’s post-pandemic recovery have been led by manufacturing activity and exports and its GDP growth is forecast to be 5.1% in 2022 and 5.3% in 2023. The 2022 GDP growth of developed economies such as the United States, Europe and Japan are predicted to reach 3.7%, 4.2% and 2.9% respectively.

The report also discusses the need for coordinated efforts to control the pandemic and ensure more equitable vaccine access and to foster debt sustainability in the poorest countries and sustain the recovery of persistent inflation, as well as measures that should be taken to tackle climate change and reduce inequality.

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