IMF warns Chinese economic recovery ‘lacks balance’
Focus on investment has set back progress towards “high-quality” growth, fund says
The Chinese economy has recovered quickly from the shock of Covid-19 but authorities’ focus on investment has led to growth that “lacks balance”, the International Monetary Fund warns.
The Chinese economy is estimated to have grown 7.9% in 2021, slowing to a projected 4.8% this year, a stronger recovery than many economies worldwide are managing.
But IMF executive directors said China’s fiscal stimulus measures – which are now being rapidly scaled back – had not been supportive of “high
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