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China 1Q22 GDP growth may have beaten expectations, but more pain is on its way: UBS

UBS has downgraded its China 2022 GDP growth forecast as COVID-19 restrictions pile pressure on the world’s second largest economy, despite 1Q22 growth beating expectations at 4.8%. The Swiss bank said on Tuesday that it now believes China’s economy will expand by just 4.2% this year, down from its previous estimate of 5%. The more conservative forecast comes amid an…

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