... the World Bank nonetheless expects China to enjoy a soft landing - an opinion underscored by the bank's revised 7.7% growth forecast for this year and 8.1% for 2013.
Along with the USA, China is the world's major economic growth engine. Hence the presence in the communist nation of all five global ad agency holding groups - WPP, Omnicom, Interpublic, Havas and Publicis.
WPP ceo Sir Martin Sorrell has stressed long and loud the importance of the Chinese and Asia Pacific markets and - more to the point - put his shareholders' money where his mouth is, with WPP outposts in Hong Kong, India, Shanghai, Singapore and South Korea.
According to the World Bank's Data Monitor, ambitious investment plans announced by several regional governments in China could face funding constraints, "not least because governments are feeling the pinch of a cooling real estate market, which lowers land sales revenues".
The Bank also believes that [China's] central government is unlikely to introduce a major fiscal stimulus package, given that policymakers are concerned about a rebound in home prices and a possible reversal of hot money flows.
But the bank expects growth in China to pick up in 2013, helped by monetary policy measures introduced earlier this year and an acceleration of central government investment spending.
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