The World Bank (WB) lowered its growth outlook for 20 developing East Asian economies this year from 6.7 percent made last December to 5.3 percent in its latest economic forecast.
Expecting that China will grow 6.5 percent this year, bolstered by the country's current 4 trillion Yuan stimulus package, the bank was quoted by Kyodo News as saying that ''A ray of hope may be emerging with signs of China's economy bottoming out by mid-2009.''
The WB's semiannual ''East Asia and Pacific Update'' said a recovery in China will likely begin this year and take full hold in 2010, contributing to the region's stabilisation and possible recovery.
But the report warned that a ''truly sustainable recovery in the East Asia and Pacific region ultimately depends on developments in the advanced economies,'' with China still remaining heavily reliant on exports to markets that continue to contract.