ECONOMICS

World Bank cuts estimate for China's growth in 2009
The World Bank estimated that China's economy will grow by 6.5% this year, less than its previous forecast of 7.5% and the Chinese government's prediction of 8%. The bank said China is still expected to outgrow most other economies because of its strong financial sector, but falling exports have hurt manufacturing. China must increase domestic demand to cut its dependence on exports and encourage long-term growth, the bank said. International Herald Tribune (18 Mar.)

Mexico imposes $2.4 billion in tariffs on U.S. goods
Mexico implemented a series of retaliatory import tariffs after the U.S. shut down a pilot program that allowed some long-haul trucks to enter the U.S. from Mexico. Hoping to head off a trade war with Mexico, the Obama administration is striking a conciliatory tone to reach a compromise. BusinessWeek (18 Mar.)

Survey: Central bankers turn conservative amid crisis
A survey of central bankers, who together control more than 40% of the world's reserve assets, found that most have adopted approaches that are more conservative, shifting from strategies focused on diversity and yield. Most said they expect reserves to remain in decline, then recover slightly, during the next four years. Reuters (18 Mar.)