Posted 3/24/2024, 8:12:33 AM
IMF Chief Urges China to Boost Consumption, Reinvent Economy to Resolve Crises
- IMF chief urges China to "reinvent itself" with new economic policies to resolve property crisis, boost consumption and productivity
- IMF analysis shows more consumer-focused policy mix could add $3.5 trillion to China's economy over 15 years
- China needs "decisive" steps to address housing issues and local government debt risks
- Higher reliance on domestic consumption is key to high-quality growth
- Foreign executives remain committed to China despite recent investment declines
