China Criticizes IMF’s Growth Outlook, Calls to Boost Confidence
- Asian giant is facing ‘high’ levels of uncertainty, says IMF
- Beijing urges body to help ‘stabilize’ sentiment in economy
Shoppers in Shenzhen, China.
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China clashed with the International Monetary Fund over its forecast for decelerating growth in the Asian giant, underscoring Beijing’s sensitivity to unflattering assessments of its economy.
Uncertainty surrounding China’s outlook this year is “high,” the IMF said in its annual review of the world’s second-largest economy, referencing a deep property slump and weak external demand. The country’s economic expansion will cool in 2024 and continue to ease in the coming years, according to the report.