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China, Vietnam Lead Three-Speed Asian Recovery, World Bank Says

Passengers wearing protective mask ride on a subway train in Beijing.

Passengers wearing protective mask ride on a subway train in Beijing.

Photographer: Qilai Shen/Bloomberg

A three-speed recovery is taking hold across East Asia and the Pacific, with China and Vietnam already beating their pre-pandemic levels of economic growth while other countries could take years more to heal, according to World Bank projections.

The developing countries of the region, excluding China, are set to expand 4.4% after contracting 3.7% last year, the World Bank said in a release Friday. Underneath those regional figures is a broad disparity, with Pacific Island nations set to grow just 1% after contracting 11.3% last year, and many recovering but still significantly behind their pre-pandemic levels of growth.