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Growth forecasts for China and much of East Asia have been revised down by the World Bank for this... euronews, the most watched news channel in Europe Subscribe for your daily dose of international news, curated and explained:http://eurone.ws/10ZCK4a Euronews is available in 13 other languages: http://eurone.ws/17moBCU http://www.euronews.com/2013/10/07/world-bank-downgrades-chinaeasia-but-spares-philippines Growth forecasts for China and much of East Asia have been revised down by the World Bank for this year and next. The bank says China has made progress in rebalancing the economy, with more consumption, services growth and less investment. But more domestic consumption has meant a drop in imports from Asian neighbours, who are also being hit by a fall in commodity prices. And local government debt and the opacity of China's financial markets remain risks insists the bank. Find us on: Youtube http://bit.ly/zr3upY Facebook http://www.facebook.com/euronews.fans Twitter http://twitter.com/euronews