By finance reporter Elysse Morgan The International Monetary Fund is calling on China's leadership to slow economic growth by around 1 percentage point for the good of the global economy. Government debt in China, the report estimates, rose to around 40 per cent of GDP at the end of last year, as stimulus measures were introduced to keep growth at 7.5 per cent. The IMF says this has been beneficial and provided a "welcome lift to the global economy." However, it says authorities now need to concentrate on stabilising debt levels, managing a real estate slowdown and liberalising the financial system. More » |
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