With 189 member countries, staff from more 170 countries, and offices in over 130 locations, the World Bank Group is a unique global developing china the remarkable impact of foreign direct investment: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The World Bank Group works in every major area of development. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face.
We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. Improved global growth prospects and continued strong domestic demand underpin a positive outlook for the developing economies of East Asia and the Pacific, says the October 2017 edition of the East Asia and Pacific Economic Update. Stronger growth in advanced economies, a moderate recovery in commodity prices, and a strengthening of global trade growth, are the favorable external factors that will support the economies of developing East Asia and Pacific to expand by 6. Growth in the region is expected to slow slightly to 6. 2 percent in 2018 primarily reflecting China’s gradual slowdown.
The uptick in growth in 2017 relative to earlier expectations reflects stronger than expected growth in China, at 6. 7 percent, the same pace as in 2016. In the rest of the region, including the large Southeast Asian economies, growth in 2017 will be slightly faster at 5. 1 percent in 2017 and 5. 2 percent in 2018, up from 4. Several external and domestic risks could impact this positive outlook. Uncertainty remains about economic policies in some advanced economies, and escalating geopolitical tensions could have adverse economic impacts.
Euro Area could be tightened more quickly than expected. Many countries in the region also have vulnerabilities in their financial sectors with high levels of private sector debt or deteriorating asset quality. In several countries fiscal deficits remain high or are on the rise. China’s gradual rebalancing away from investment and towards domestic consumption is expected to continue, with growth projected to slow to around 6. Thailand and Malaysia are expected to grow more rapidly than expected, due to the stronger exports, including tourism, for the former, and increased investment in the latter.