IMF Cuts China’s Economic Growth to 6.2%, Tormenting by the Escalation of Trade War!
IMF has cut its forecast for China's 2019 economic growth from 6.3% to 6.2% while expecting the growth in 2020 to be 6.0% due to the trade war.
Today, June 5, 2019, the International Monetary Fund has trimmed its forecast for 2019 economic growth in China from 6.3% to 6.2% while expecting the growth in 2020 to be 6.0% due to the escalation of trade war with the U.S. as there is no telling when it will end.
“Growth is expected to moderate to 6.2% and 6.0% in 2019 and 2020, respectively,” said the IMF’s Deputy Managing Director David Lipton. “The near-term outlook remains particularly uncertain given the potential for further escalation of trade tensions.”
The IMF said that while China has made progress on reforms, it should allow market forces to play a more decisive role and accelerate its opening up to the rest of the world.
China’s top banking regulatory agency announced new measures to open up its financial services industry to foreign investors last month last month, and PBOC Governor Yi Gang said earlier in the year the bank will focus on developing more hedging tools to help foreign investors manage risks.
