IMF Urges China to Diversify Economy

IMF Chief Urges China to Diversify Economy, Boost Domestic SpendingKristalina Georgieva, IMF head, warns China about excessive reliance on exports, citing record $1 trillion trade surplus. She emphasizes Chinas vast domestic market potential for growth. Beijing aims to shift economy away from exports and infrastructure, but COVID and real estate downturn slow progress. IMF suggests broad policies to encourage spending, as weakened domestic demand and property downturn exacerbate trade imbalance. The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.