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Already analysts have lowered growth forecasts.
The Bank of England lowered growth and inflation forecasts and hinted it might reduce interest rates.
In March, the Chinese government lowered growth projections to 7%, a value it called the "new normal".
The company lowered growth forecasts for cable, Internet and telephone services, if only by a couple of percentage points.
On Thursday, HSBC said that a structural slowdown in the economy was the reason behind a lowered growth forecast.
The World Bank's lowered growth forecast for this year comes after the International Monetary Fund kept its forecast for China unchanged at 8.2 percent in its April report.
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Austerity directly lowers growth in the short term and also indirectly affects growth by altering incentives.
Mr Wen said lowering growth without raising unemployment would be an "extremely big test".
China and Brazil are wrestling with lower growth rates.
Lower growth, higher prices, a lower quality of life.
With lower growth, few well-paid jobs are created.
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