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The World Bank has upped its 2009 growth forecast for China from 7.2% to 8.4%, but says the nation needs to encourage more consumer spending.
The Washington-based body also raised its projection of 2009 GDP growth in East Asia as a whole to 6.7% from 5.3%, thanks to China's strong growth. But it said growth in the region could be just 1% if China was excluded. And it said China, boosted by a recent stimulus plan, must move away from an industry and investment-based economy.
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