Politics

Politics

China imposes sanctions on Western defense firms over US a…

08-01-2024

China has imposed sanctions on five Western defense firms in response to the latest series of US arms sales to Taiwan...

Politics

Shift in global favorability: U.S. gains positive views, w…

06-11-2023

  A recent survey conducted in wealthy nations has revealed a shift in favorability, with more positive views towards ...

Politics

Prime Minister of Australia describes his China visit as a…

04-11-2023

  Australian Prime Minister Anthony Albanese expressed optimism on Saturday regarding his long-anticipated journey to ...

Politics

U.S. and China Discuss Macroeconomic Developments in Virtu…

24-10-2023

Officials from the United States and China engaged in a productive and substantive two-hour virtual meeting to deliber...

Politics

Israel-Hamas conflict resonates in Asia: diplomat stabbed …

15-10-2023

  In the week since the Israel-Hamas conflict began, it has had significant reverberations across Asia, leaving an Isr...

The International Monetary Fund (IMF) stated on Thursday that it has observed certain indications of stability in China's economy based on recent data. However, the IMF believes that China

has the potential for faster medium-term growth if it implements reforms aimed at rebalancing its economic growth from investment-driven to consumer-driven.

Julie Kozack, the Chief spokesperson of the IMF, mentioned during a regular news briefing that the IMF's current belief is that China can achieve approximately 5 percent growth for this year. Detailed projections are expected to be released when the IMF publishes its World Economic Outlook at the IMF-World Bank annual meetings scheduled for October 10 in Marrakech, Morocco. The IMF anticipates China's GDP growth to slow to around 3.5 percent over the medium term, but they suggest that this slowdown can be mitigated through economic reforms. Photo by AgnosticPreachersKid, Wikimedia commons.