World Bank cuts global growth forecasts on trade barriers, policy uncertainty

The World Bank slashed global economic growth forecasts on Tuesday citing heightened trade tensions and policy uncertainty.

The turmoil resulted in lower growth forecasts in nearly 70 percent of all economies across all regions and income groups, according to the latest bi-annual Global Economic Prospects report issued on Tuesday.

The report cut the 2025 global economic growth forecast to 2.3 percent from 2.7 percent in January, 2025 with the 2026 growth forecast lowered to 2.4 percent from 2.7 percent.

Advanced economies are expected to see an expansion of 1.2 percent in 2025, down from 1.7 percent in earlier forecasts while the growth forecast with emerging market and developing economies was lowered by 0.3 percentage points to 3.8 percent in 2025.

In particular, the United States is expected to grow by 1.4 percent in 2025, 0.9 percentage points less than previous forecast and only half of the 2.8 percent growth in 2024.

Both the Euro Area and Japan are expected to grow 0.7 percent this year, 0.3 percentage points and 0.5 percentage points lower from previous estimates, respectively, while China's growth forecasts for both 2025 and 2026 remain unchanged.

The world economy is once more running into turbulence while a "soft landing" appeared to be in sight only six months ago, said the report.

"Without a swift course correction, the harm to living standards could be deep," warned the report.

The global economy is expected to see a tepid recovery in 2026 and 2027 but world output would remain materially below projections made in January 2025.

World Bank cuts global growth forecasts on trade barriers, policy uncertainty

World Bank cuts global growth forecasts on trade barriers, policy uncertainty

China's top legislator Zhao Leji met with Tajik President Emomali Rahmon in Beijing on Tuesday.

Zhao, chairman of the National People's Congress (NPC) Standing Committee, said that China stands ready to work with Tajikistan to strengthen cooperation across multiple key areas.

Taking the important consensus reached by the two heads of state as the fundamental guideline, Zhao said the two sides should aim to deepen strategic mutual trust, expand practical cooperation, promote high-quality development of China-Central Asia cooperation, and build a China-Tajikistan community with a shared future featuring everlasting friendship, solidarity, and mutual benefit and win-win results.

Zhao said China's NPC is ready to strengthen exchanges and cooperation with the parliament of Tajikistan to provide a legal guarantee for the long-term healthy and stable development of China-Tajikistan relations.

Rahmon said Tajikistan firmly adheres to the one-China principle and fully supports the four major global initiatives put forward by China.

He said Tajikistan is glad to see the great achievements China has made in its modernization drive, and is ready to strengthen practical cooperation with China in various fields such as politics, economy and culture, deepen exchanges between legislative bodies, and continuously enhance the friendly feelings between the two peoples.

On Tuesday morning, Rahmon laid a wreath at the Monument to the People's Heroes.

Rahmon is paying a state visit to China from from Monday to Thursday at the invitation of Chinese President Xi Jinping.

China's top legislator meets Tajik president