IMF’s Georgieva urges China to speed up ‘long-overdue’ shift away from relying on exports for growth, so as ‘not to provoke’ other countries

Key Points

China needs to speed up its decades-long plan to increase its reliance on consumption as a driver of growth, IMF Managing Director Kristalina Georgieva told reporters Wednesday.
She said such a move was needed “so as not to provoke other countries to take measures to curb down Chinese exports.”
The IMF on Wednesday also raised its forecast for China’s economic growth next year by 0.3 percentage points to 4.5%, based on domestic stimulus and lower-than-expected tariffs.

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