In an exclusive interview with Reuters, Ms Georgieva explained that these messages would be sent to Beijing as part of the upcoming review of Chinese economic policy, known as “Article 4”.
The International Monetary Fund will urge China to boost ailing domestic consumption, address the problems of real estate companies and control the level of local government borrowing, as these problems weigh on both the Chinese and the global economy. development, its general director, Kristalina Georgieva, told Reuters news agency yesterday.
In an exclusive interview with Reuters, Ms Georgieva explained that these messages would be sent to Beijing as part of the upcoming review of Chinese economic policy, known as “Article 4”.
Washington’s financial establishment will make a strong recommendation to China to change its economic model, to stop relying on debt-backed infrastructure and real estate investments, he insisted.
“Our advice to China” will be to change its economic policy so that “the growth model shifts more to domestic consumption,” Ms Georgieva insisted. “Because the traditional model of building infrastructure, pouring more and more capital, will not be productive in today’s environment,” he added.
Source :Skai
With a wealth of experience honed over 4+ years in journalism, I bring a seasoned voice to the world of news. Currently, I work as a freelance writer and editor, always seeking new opportunities to tell compelling stories in the field of world news.
