World Bank: East Asian Growth to Pick up in 2013

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Growth in East Asia’s developing economies will pick up next year after China’s slowdown hits bottom, but considerable risks remain, including the possibility of a sharp drop in investment growth in the world’s second-biggest economy, the World Bank said Wednesday. The Washington-based lender said in a report that the region will expand by 7.9 percent in 2013 after growing 7.5 percent this year. East Asia remained resilient despite the lackluster global economy and will contribute almost 40 percent of global growth in 2012, the bank said.—AP