Economics
IMF Says China Should Open More to World, Ease Trade Tension
- Faster opening up would benefit the global economy, fund says
- GDP growth seen slowing to 6.6% this year, about 5.5% by 2023
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China has made progress on reforms but should allow market forces to play a more decisive role and accelerate its opening up to the rest of the world, the International Monetary Fund said.
While credit growth has slowed, it remains too fast, and policy makers should de-emphasize growth targets and focus on higher-quality growth, the fund said in a statement released Wednesday in Beijing at the conclusion of its mission for the 2018 Article IV Consultation.