Jin: no need to worry
Jin Zhongxia, China’s representative at the IMF, rejects that body’s latest warning that the Chinese economy will face increasing risks due to “dangerous” debt levels. The IMF has forecast that China’s economy will grow annually at 6.4% between 2018-20 and the government will hit its target of doubling 2010’s GDP level. However, it said debt levels will have to hit 290% of GDP by 2022 to do so, raising the prospect of a “disruptive adjustment” (WiC suspects this is bureaucratese for ‘crisis’).
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