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World Bank: China's Economic Growth Expected to Slow Slightly

FILE - Laborers work at a construction site in Beijing.

World Bank experts say China's economic growth is likely to slow slightly to 7.4 percent this year, and to lag even a bit more next year.

China is the world's second-largest economy, so changes in its growth rate affect the economies of many nations that sell goods and services there.

Monday's report says outside China, growth will speed up for East Asian nations next year. The experts call for East Asian nations to help growth by cutting barriers to domestic investment and making exports more competitive.

A separate World Bank report says growth will accelerate in India, expanding at a 6 percent rate next year, and a bit faster in 2016. India's success may help other South Asian nations as well.

The Brookings Institution and the Financial Times newspaper recently analyzed economic data and global trouble spots, and say the economic recovery is "shaky," and far too dependent on continued expansion in the United States.

The flurry of economic reports comes as top economic officials from around the world gather in Washington this week for meetings of the World Bank and the International Monetary Fund. The IMF is scheduled to publish its updated assessment of the economy on Tuesday.