Philippines to be second to China in growth in 2016: World Bank

Washington

THIS year, the Philippines will emerge alongside China among the developing East Asian economies in pole position in terms of growth.

They will be followed by Vietnam and Indonesia, the World Bank has predicted.

Its latest East Asia and Pacific Economic Update released in Washington forecasts that China will continue in its transition to slower - but more sustainable - growth; it will grow from 6.7 per cent this year to 6.5 per cent next year and 6.3 per cent in 2018.

The Philippine economy will be close behind, with 6.4 per ce…