China recovering fast, IMF projects 8% growth this year

China recovering fast, IMF projects 8% growth this year

China is recovering fast ahead.

Washington, January 10

China is recovering fast ahead of most large economies, but the recovery is still unbalanced and facing significant downside risks, the IMF has said, projecting 8 per cent growth for the world’s second largest economy in 2021.

However, the main concern around the Chinese recovery that the International Monetary Fund (IMF) has is the lack of balance, said Hlge Berger, Mission Chief for China and Assistant Director, Asia and Pacific Department of the IMF. “China is recovering fast ahead of most large economies, but the recovery is still unbalanced and facing significant downside risks. We are seeing 2 per cent growth in 2020 and around 8 per cent in 2021. December numbers have been surprising on the upside, so there are some upside risks to that forecast,” said Berger.

On the other hand, he said there are significant downside risks. Domestically, there is a pandemic risk that is still around. Also, external environment has generally become a little more difficult for China and its economic ties with other nations. — PTI

Don't Miss

Top Stories

Misconceptions being spread about January 26 tractor march, says Samyukta Kisan Morcha

Misconceptions being spread about January 26 tractor march, says Samyukta Kisan Morcha

Morcha leaders condemn inflammatory statements by ‘Sikhs for...

Farmers again reject govt’s offer of amending laws, want them repealed

Farmers again reject govt’s offer of amending laws, want them repealed

Ninth round of talks with Centre ends, deadlock continues; n...

PM doesn’t respect farmers, wants to tire out those protesting against agri laws: Rahul

PM doesn’t respect farmers, wants to tire out those protesting against agri laws: Rahul

The former Congress chief says his party will not step back ...

Suspected case of bird flu reported in Punjab's Dera Bassi

Suspected case of bird flu reported in Punjab's Dera Bassi

Samples sent to National Institute of High Security Animal D...

India all set for world’s largest Covid-19 vaccination drive on Saturday

India all set for world’s largest Covid-19 vaccination drive on Saturday

The vaccine will be first offered to healthcare workers, fro...

Cities

View All