Morgan Stanley downgrades global economic growth forecast to 2.4%

Morgan Stanley chief analyst said that the slowing US economy caused the global economy to slip into recession and reduced the global economic growth forecast for this year from 2.5% to 2.4% while next year would see a growth of 3.7%. He pointed out that China depended not so heavily on the global economy and the annual growth prediction of 8% is rather conservative According to him, except China, all Asian countries would be affected negatively from the slowdown of global economic recession, adding that RMB will not be devalued under any conditions.

Related stock : (NIL)