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World Bank Cuts China's Growth Forecast to Decade Low For more news and videos visit ☛ english.ntdtv.com Follow us on Twitter ☛ http Add us on Facebook ☛ on.fb.me The World Bank's latest quarterly update on China says, "The Chinese economy is in the midst of a gradual slowdown." Chinese gross domestic product is expected to expand just 8.2 percent in 2012 -- its lowest in 13 years. Many analysts say China has to allow more private investment if it's to find new sources for economic growth. But for this to happen, China will need considerable government reforms. The World Bank report says, "Despite continued net capital inflows, foreign exchange reserves will accumulate more slowly. The longer-term outlook will depend on how China manages key structural challenges." The state-run Xinhua News Agency reports the Chinese regime would give guidelines to encourage private investment across the sectors, particularly predominantly state-owned electricity, oil and natural gas. Currently the amount of private investment is very small, being just 13.6 percent in the electricity and thermal power sector and only 9.6 percent in the financial industry. From: NTDTV Views: 117 4 ratings Time: 01:17 More in News & Politics