IMF: China's Economy At Risk If Europe Crisis Worsens
February 6, 2012
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China’s Economy At Risk If Europe Worsens
The IMF says that China's economic expansion could be at risk if the European sovereign debt crisis worsens.
According to a report via Bloomberg, China’s GDP would be cut nearly in half if Europe's debt crisis worsens and would warrant "significant" fiscal stimulus from the Chinese government.
The IMF’s estimate is based on the organization’s downside forecast for the global economy, which says China's growth could drop by as much as 4% from the fund's current projection of 8.2% growth this year.
The IMF suggested that the Chinese government could cushion the impact of a slowdown in their economy with measures including tax cuts that amount to about 3% of GDP.
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