IMF forecasts Chinese economy to grow at 6.6% in 2016 – People’s Daily Online

 

English: Logo of the People's Daily 中文: 人民日报题字

English: Logo of the People’s Daily 中文: 人民日报题字 (Photo credit: Wikipedia)

China’s influential newspaper, Peoples’ Daily, reports the IMF forecast in its newly-released World Economic Outlook and Global Financial Stability Report. It highlights that China’s GDP growth is projected to be 6.6 percent in 2016 before moderating to 6.2 percent in 2017.

Source: IMF forecasts Chinese economy to grow at 6.6% in 2016 – People’s Daily Online

This is good news for China, highlighting that China is overhauling its economy effectively and minimizing the risk. No doubt Western China experts will still be highlighting the risks in the coming days. But the IMF forecast is independent and respected – this is why China is promoting the news.

Thoughts?

The IMF and austerity – John Redwood MP

One of a number of posters created by the Econ...

One of a number of posters created by the Economic Cooperation Administration to promote the Marshall Plan in Europe (Photo credit: Wikipedia)

International Monetary Fund

International Monetary Fund (Photo credit: Wikipedia)

International Monetary Fund [oct 25]

International Monetary Fund [oct 25] (Photo credit: JavierPsilocybin)

This is a very interesting and timely blog from John Redwood, Conservative MP. It’s well worth a read. Check it out!

The IMF and austerity.

I agree with much of John Redwood’s article. I particularly agree with the following statement about the Euro:

“If it were a proper single currency, there would be much larger transfers of grant and loan money from the richer areas to the poorer areas, to make it all more tolerable.”

For me, Germany and the other North European countries that have benefited from the Euro since inception,  now have a responsibility to invest in the economic recovery of Southern Europe – a Marshall type plan.

Enhanced by Zemanta