IMF Says China’s Economic Imbalances Have Worsened
Chinese growth in 2022 now forecast at 4.8%, down from prior outlook of 5.7%
Chinese President Xi Jinping is expected to claim a tradition-busting third term. AFP
Imbalances in the Chinese economy have worsened and delayed China’s transition to consumption-led growth, the International Monetary Fund said in an annual review on Friday, slashing its outlook for the country this year.
The IMF assessment, in its Article IV review, reflects growing concern among some economists and officials that greater state intervention in the economy could be hindering China’s long-held goal of “high-quality” growth — one driven by consumption rather than investment.
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