IMF welcomes slower growth as China rebalances economy
[BEIJING] The slowdown in China's economy reflects a welcomed decision by the Chinese government to re-balance the world's second-largest economy, the chief economist of the International Monetary Fund (IMF) said on Tuesday.
Olivier Blanchard, the IMF's chief economist, made the remarks at a news conference after the fund released its world economic outlook.
Blanchard's comments followed data from China that showed the Chinese economy grew 7.3 per cent in the fourth quarter, hovering near a six-year low not seen since the global financial crisis.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Israeli Cabinet votes to shut down Al Jazeera's local operations
Ukraine eases some wartime capital controls for businesses
Labour mayor wins cap triumphant election run for Starmer
100 years on, SICCI to focus on internationalisation, digitalisation and sustainability
Microsoft bets big on South-east Asia, pledges billions in AI and cloud investments
Putin plans to meet Xi in China days after his new term starts