Global economic growth entering slowdown growth in

The global economy is projected to grow at 2.6 percent between 2020 and 2035 and enter a low

-speed growth period, Economic Daily reported citing the Development Research Center of the State Council.

Considering changes in major factors such as technology, urbanization, population and environment, global eco

nomic growth is expected to experience a declining trend with slower growth rate long-term, the center said.

Developed economies’ overall growth is predicted to slow down further to about 1.7 percent — below t

he average growth rate over the past 50 years — while for developing countries, the annual average growth rate is expected to be 4.9 percent.

Over the next 15 years, some developing countries will continue their urbanization process. A new round of tec

hnology revolution and urbanization still carries potential for economic growth in some developing countries.

The global urbanization rate is expected to be 61.7 percent by 2035, becoming a key driver for future growth, the center asserted.

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