The World Bank

the World Bank: China will expand 7.6 percent this year, down from 7.7 percent projected in October, while Thailand will grow 3 percent, 1.5 percentage points lower than seen six months ago, the World Bank said in its East Asia and Pacific Economic Update released today. Developing East Asia is forecast to grow 7.1 percent in 2014, down from 7.2 percent seen in October, it showed, according to Business Week. China has already begun a series of reforms in finance, market access, labor mobility and fiscal policy to increase the efficiency of growth and boost domestic demand, the World Bank said in a statement. Over time, these measures will put the economy on a more stable, inclusive and sustainable footing. Some initiatives that the government has already announced, such as tax reform and lowering barriers to private investment, may also spur growth in the short term. Risks to Forecast Developing East Asian economies will grow slower than forecast this year as Chinas expansion moderates and political upheaval weighs on Thailands outlook, the World Bank said. Even so, the regions expansion will be underpinned by a recovery in high-income economies and the markets modest response to the Federal Reserves tapering of its quantitative easing program to date, the report showed. It said structural reforms are key to reducing vulnerabilities and enhancing the sustainability of long-term growth in the region. (news.financializer.com). As reported in the news.