IMF warns China to shift from export-led growth to consumer-driven economy to avoid growth below 4%.

IMF Managing Director Kristalina Georgieva warned that China must shift from an export-led growth model to a consumer-driven economy to avoid dangerously slow growth, which could drop below 4% in the medium term. She commended recent fiscal stimulus measures but emphasized the need for deeper structural reforms, including pension reforms, social safety nets, and investments in healthcare and education, to boost consumer confidence and drive sustainable growth.

October 17, 2024
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