Posted 3/24/2024, 8:45:52 AM
IMF: China Growth Could Expand 20% with Reforms, But Risks Remain
- China could add $3.5 trillion to economy over 15 years with pro-market reforms, equating to 20% GDP expansion
- Reforms needed in property sector, reducing debt risks, boosting domestic consumption
- IMF projects China's GDP growth slowing to 4.2% in 2023
- China vital contributor to global growth, key partner for Middle East countries
- IMF urges China to reduce unfinished housing, increase social security benefits, strengthen pension system