IMF Turns Negative on China


24/7 Wall St.

Another nail in the coffin of the outlook of China’s economy was pounded in by the International Monetary Fund. The sentiment about the near-term future of gross domestic product and exports in the People’s Republic gets worse nearly daily.

In a statement about the world’s second-largest economy by GDP, the IMF report said:

China’s growth rate is set to moderate to around 8 percent this year due to measures by the authorities to cool the economy, and the global slowdown.

The assessment may not be original, but it does carry the weight of its source. In comments providing further detail, the head of the IMF China team, Markus Rodlauer, said:

Over the past few years, growth in China has relied very much on high and rising rates of investment. So, investment has been very strong, capacity has been built, infrastructure has been added, but it cannot continue at this rapid…

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