Ekonomické zprávy
21.10.2021

China has policy options to cushion economy’s slowdown - IMF

Bloomberg reports that Changyong Rhee, director of the International Monetary Fund’s Asia and Pacific Department, said that China still has policy options to cushion an economic slowdown.

While the world’s second-biggest economy remains on track to grow around 8% this year, Rhee expects that pace to slow in the years ahead given challenges that include deleveraging and an aging population.

Economists downgraded their forecasts for China’s economic growth for this year after data Monday showed a weakening in the third quarter and signs there could be a further slowdown in coming months. 

Rhee said the potential spillover to international capital markets from the crisis hitting China Evergrande Group appears to be limited, but the fallout may have a broader impact on China’s domestic economy.

For the Asia region more broadly, Rhee warned of a deepening divergence between those countries with high vaccination rates and those that are lagging.

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