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World Bank cuts China, East Asia growth forecasts

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The World Bank lowered its 2013 and 2014 economic growth forecasts for China and most of developing East Asia on Monday, citing slower growth in the world's most populous nation as well as weaker commodity prices, according to Reuters.

The Washington-based development bank expects East Asia to expand 7.1 percent this year and 7.2 percent in 2014.

China is estimated at 7.7 percent growth in 2014.

Read more at Reuters.

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