China’s sizzling economy is slowing but should still expand by 10.4 percent this year, according to an AP report. The World Bank’s growth forecast, included in a quarterly report on China’s economy, was a sharp increase from its earlier projection of 9.5 percent. It came after the Chinese government reported that second-quarter growth hit 11.3 percent, the highest rate in a decade. China’s exports for the year are expected to soar by 20.8 percent, while imports rise by 18.4 percent, the bank said. It said that should lead to a current account surplus—the broadest measure of trade—of $220 billion, up 36 percent from 2005.
to Daily News