July 18, 2013

THE DRAGON HAS NO TEETH:

I.M.F. Tells China of Urgent Need for Economic Change (ANNIE LOWREY, July 17, 2013, NY Times)

 China's growth has slowed significantly in recent months. But even its current pace of expansion may not be sustainable, the International Monetary Fund warned on Wednesday, unless China starts making significant and systemic economic changes -- and soon.

"Since the global crisis, a mix of investment, credit and fiscal stimulus has underpinned activity," the I.M.F. said in a major annual assessment of the Chinese economy. "This pattern of growth is not sustainable and is raising vulnerabilities. While China still has significant buffers to weather shocks, the margins of safety are diminishing."

Posted by at July 18, 2013 5:17 AM
  

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